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UK economic growth slows to 0.2%

UK economic growth slowed down in the second quarter of 2008 with an increase of just 0.2 per cent, according to figures from the Office for National Statistics.

This is compared to an increase of 0.3 per cent in the previous quarter.

The figure is the lowest quarter on quarter growth for three years.

Weaker construction and production output drove the deceleration in growth which the ONS says was partially offset by increased growth in the service industries.

Construction output decreased by 0.7 per cent, compared with a rise of 0.4 per cent in the previous quarter.

Total production output decelerated in Q2, decreasing by 0.5 per cent, compared with a fall of 0.2 per cent in the previous quarter. Manufacturing made the largest contribution to the slow down, falling by 0.4 per cent compared with a rise of 0.4 per cent in Q1.

Electricity, gas and water output decreased by 1.5 per cent, compared with a fall of 1.3 per cent in Q1.

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