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Economic Update: February 2014

The UK economy gained momentum throughout 2013 with Gross Domestic Product (GDP) growth exceeding earlier forecasts. A rise in GDP in the first three quarters of 2013 saw output grow more quickly than any previous nine-month period since 2010. Growth of 0.4 per cent and 0.7 per cent in Q1 and Q2 was followed by a 0.8 per cent rise in Q3. Overall, GDP increased by 1.5 per cent between September 2012 and September 2013.

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