UK economy grew 0.8% in first quarter

The UK economy has grown by 0.8% over the first three months of 2014, according to the latest figures from the ONS.

But the statistics show that the economy is still languishing 0.6 percentage points below its 2008 peak.

Manufacturing output was up 1.3% - its strongest quarterly showing in four years. The service sector grew by 0.9% and construction output was up 0.3%.

But agricultural output dropped by 0.7%.

The Chancellor George Osborne said that “Britain is coming back”, but warned that the economic recovery could not be taken for granted.

He said: “The impact of the Great Recession is still being felt, but the foundations for a broad based recovery are now in place.”

“The biggest risk to economic security would be abandoning the plan that is laying those foundations.”

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