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Sustained recovery boost

2010-10-26 38 Dailymotion

<p><br /> Latest figures reveal Britain's economy grew by a better-than-expected 0.8 per cent during the third quarter.<br /> </p><p><br /> The rise was less than the 1.2 per cent in the previous three months but double the growth expected.<br /> </p><p><br /> Economic growth over the past six months has now hit 2 per cent.<br /> </p><p><br /> While the statistics are only a preliminary estimate and may be subject to change, the initial growth figures are likely to give a boost to Government deficit-busting plans.<br /> </p><p><br /> This week, Labour leader Ed Miliband accused the Government of taking a "big gamble with growth" by pushing through deep public spending cuts, but a stronger recovery in the private sector should give Britain a better chance of withstanding austerity measures.<br /> </p><p><br /> The Office for National Statistics data revealed a surge in construction output helped drive growth in GDP, growing by 4 per cent during the third quarter.<br /> </p><p><br /> Output in the key services sector also grew.<br /> </p><p><br /> Prime Minister David Cameron promised a "relentless focus on growth" this week, to help fill the hole left by the coalition's austerity measures, expected to cost 490,000 public sector jobs.<br /> </p><p><br /> Critics doubt the private sector has the capacity Mr Cameron believes it does to take up the slack in the economy.<br /> </p>

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