Service sector helps UK economy grow 0.6 pct in Q2

LONDON (AP) ? The British economy grew by 0.6 percent in the first quarter compared with the previous three months, largely on the back of a strong performance by the services sector.

The increase as reported by the Office for National Statistics was double the previous quarter's rate but in line with market expectations.

The quarterly performance will likely give the UK government a bit of breathing space amid ongoing criticism over its tough austerity policies. Critics say that despite the improvement in overall growth, many people in Britain are failing to see an improvement in their living standards.

The International Monetary Fund has suggested that the government might want to reconsider the pace of its austerity measures to help the economy, whose output was worth 1.4 trillion pounds ($2.1 trillion) in 2012.

Source: http://news.yahoo.com/sector-helps-uk-economy-grow-0-6-pct-084207103.html

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