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Britons Have Become Poorer
With the population increasing faster than output, GDP per head fell in the first quarter
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The U.K. economy barely grew in the first quarter but on a key measure of well-being Britons actually got poorer. Gross domestic product per head fell for the first time in two years, as the population increased faster than output. The report from the Office for National Statistics has fueled speculation that the Bank of England will refrain from raising interest rates next month.