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UK Economy

Official data from the United Kingdom confirmed that the country’s economic growth slowed in the first quarter. GDP grew by 0.3% for the period, according to the National Statistical Office, at an annual rate of 1.2%. The figures remain unchanged from the previously announced and are below expectations of most analysts. Bank of England expects the final revision to show growth of 0.5% in the first quarter and accelerate in the second. GBP / USD reported a decline of 0.3% to 1.5328 after the announcement of the data.