U.K. Economy Grows At Fastest Pace In Four Years

The British economy grew almost twice as much as economists were forecasting for the second quarter. That's welcome news for a country dealing with painful budgets cuts aimed at reducing a record budget deficit. The numbers are the fastest expansion in four years.

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MARY LOUISE KELLY, host:

NPR's business news starts with some bullish news for Britain.

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KELLY: British officials say their economy grew almost twice as much as expected for the second quarter. That's welcome news for a country dealing with painful budgets cuts aimed at reducing a record budget deficit. Today's numbers mark the fastest expansion in four years.

Still, the International Monetary Fund estimates the British economy will expand by only 1.2 percent this year. By comparison, the IMF predicts 3.3 percent growth for the U.S.

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