Economic growth slows in Britain

Economic growth slowed in the second quarter in Britain as manufacturing shrank, adding pressure on prime minister David Cameron…

Economic growth slowed in the second quarter in Britain as manufacturing shrank, adding pressure on prime minister David Cameron to do more to boost the economy.

Gross domestic product rose 0.2 per cent, the same as estimated a month ago, the Office for National Statistics said today in London.

Meanwhile, updated figures from the Commerce Department yesterday show the US economy grew slower than previously thought in the second quarter as business inventories and exports were less robust, although consumer spending was revised up.

Gross domestic product expanded at an annual rate of 1 per cent the Commerce Department said, a downward revision of its prior estimate of 1.3 per cent. – (Bloomberg)

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