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BRITISH GDP GROWTH REVISED DOWNWARDS

A revision of first-quarter UK growth figures by the Office of National Statistics has shown that the economy improved by less than originally estimated, with only a 0.2% expansion during the period. The ONS said net trade was the biggest drag, as exports fell by 1.6%. The Bank of England had expected data for the period to be revised upwards, on the basis that a weaker pound should have been helping exporters.

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