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Britain's recovery broadens, helped by long-awaited investment

Published on Feb 26, 2014 7:05 PM
 

LONDON (REUTERS) - Britain's economic recovery broadened in the last three months of 2013, driven by a pick-up in business investment and trade that will hearten the Bank of England and the government.

Consumer spending and a turnaround in the housing market have been the main drivers behind Britain's surprisingly rapid upturn, which started last year.

But Wednesday's data suggested a more balanced recovery may be building, little more than a year before a general election.

Gross domestic product rose by 0.7 per cent in the fourth quarter, the Office for National Statistics said, unrevised from an earlier estimate and in line with forecasts.

 
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