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January 23, 2008 - Forex Economic News
UK GDP grows 0.6 percent in 4th Quarter 2007.
The U.K. Gross Domestic Product grew 0.6 percent in the fourth quarter of 2007 according to a report by the Office of National Statistics. Confirming signs of an expected economic slowdown into 2008, the fourth quarter growth was below the third quarter growth rate of 0.7 percent and was the slowest growth rate in over a year. U.K. GDP grew by 3.1 percent in 2007 compared to 2006 according to the report. Weaker growth in the business services and finance sector helped slow the growth rate as this sector only grew 0.4 percent in the fourth quarter down from a 1.3 percent growth rate in the third quarter. Read the full report here. The GBP/USD is trading at 1.9502 before noon ET.
Tags: Forex Rates, UK GDP, GBP/USD, National Statistics -------------- Blog index
