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ECONOMICS COMMENTARY
Feb 27, 2013
UK economic downturn due to cautious consumers, falling business investment and export losses
The UK economy contracted 0.3% in the final quarter of last year, but is now estimated to have grown in 2012 as a whole rather than stagnated as previously thought. A return to growth is likely in the first quarter. However, with the root causes of the weakness of the economy unresolved, very modest growth at best can be expected over the course of 2013.
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