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U.K. Economy Surpasses Pre-Recession Peak
The U.K.'s gross domestic product expanded 0.8% in April-June from the previous quarter and 3.1% compared to the same period last year, according to the country's Office for National Statistics.
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The U.K.'s gross domestic product expanded 0.8% in April-June from the previous quarter and 3.1% compared to the same period last year, according to the country's Office for National Statistics.
The resulting growth pushed the British economy above its peak just before the global recession in 2008. The recession caused the U.K.'s GDP to plunge more than 7%.
The International Monetary Fund forecasts that Britain's economy will climb 3.2% in 2014 the strongest growth expected for any of the large industrialized countries this year.
The statistics office says the country's GDP expansion was led by a 1% gain in the service sector. Manufacturing grew only 0.2%.
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