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UK economic growth slows sharply in Q1

Growth in service industries, including restaurants and tourism, slowed to 0.4 percent in the first quarterBritain’s economy faced a sharp slowdown in the first quarter of 2015, halving its growth rate from the previous three months, unrevised official data showed Thursday. Analysts’ consensus forecast had been for a upward revision in quarter-on-quarter growth to 0.4 percent, according to Bloomberg News. The ONS also confirmed that the economy grew by 2.8 percent last year, which was the best among the G7’s developed economies.

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