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Economics

U.K. Growth Quickens as Consumers Blunt Investment Drop: Economy

U.K. economic growth accelerated in the second quarter as higher consumer spending helped to blunt the impact of a drop in business investment.

Household expenditure rose 0.3 percent and disposable income increased 1.5 percent, the most in a year, the Office for National Statistics said today in London. Income was boosted by bonus payments being deferred to take advantage of a tax cut. Gross domestic product advanced 0.7 percent in the quarter, matching a previous estimate.