Stock Market Bounces on GDP Growth

Latest GDP figures showed national output expanded 1.9% in 2013, the highest rate since 2007, helping the London equity markets snap a three-day losing streak

Alliance News 28 January, 2014 | 1:06PM
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UK Chancellor George Osborne again pledged to stick with the government's policy track Tuesday, as new figures showed the economy expanded at the fastest rate since the financial crisis last year but has still not fully recovered from the recession.

Latest gross domestic product figures showed national output expanded 1.9% in 2013, the highest rate since 2007. However, GDP remained 1.3% below the peak in the first quarter of 2008. From peak-to-trough in 2009, the economy shrank 7.2%.

There was also a slight slowdown in the fourth quarter, with GDP up 0.7% compared with 0.8% growth in the third quarter. The growth was driven by the ser

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