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UK economic growth hits highest levels since 2007

5 Feb 2014 12:00 AM | Anonymous

The Office for National Statistics has reported that the UK GDP is growing at 1.9 per cent, the fastest rate since 2007.

Strong performances from the services sector, which contributes more than three-quarters of the UK’s total economic output, have resulted in a 0.8 per cent increase in growth over the fourth quarter.

The UK economy benefited from reduced unemployment rates and increasing activity in the construction industry from government funded housing projects.

UK construction records strong growth

The government has also focused on supporting SMEs in order to improve local economies and raise employment levels.

The general economic improvements have seen growing confidence in the UK and new investment.

The director general of the British Chambers of Commerce, John Longworth, said: "Businesses across Britain are growing ever more bullish about their prospects. Our surveys now consistently show business confidence levels not seen for decades."

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UK services sector reports strong growth

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