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U.K. Economy Falls Short With Weakest Expansion in a Year
U.K. economic growth slowed more than economists forecast at the end of 2014 as production and construction shrank, countering strength in consumer demand. The 0.5 percent quarterly expansion was the slowest in a year and compared with 0.7 percent in the previous three months. While it was also less than the 0.6 percent forecast by economists in a Bloomberg News survey, it still marked the eighth straight period of expansion and capped the economy’s best year since 2007. Joe Grice, chief economist at the Office for National Statistics, said the cooling was mainly due to “erratic” sectors including construction ... (full story)