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Wage Pickup Is Very Bright Spot in Britain's Economic Outlook
"Some of the more pessimistic stories have been over-exaggerated"
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The U.K. economy isn't as bad as all that.
Compensation rose 4.7 percent from a year earlier in the second quarter, the biggest jump since 2007, data Wednesday showed. With inflation stuck stubbornly at zero, British consumers' spending power is stronger than ever.