UK economy expands in the first quarter

By @ibtimes on

The ONS reported today good figures from the United Kingdom supporting sterling as the economy escaped a double-dip recession.

The economy expanded by 0.5% in the first three months of 2011 inline with expectations reversing the 0.5% contraction reported in the fourth quarter of 2010.

On the year, the economy expanded 1.8% also inline with expectations and rising from the previous 1.5 percent.

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