household expenditure

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Billions of sterling pounds under the mattress

LONDON | The second estimate of GDP growth in the fourth quarter of 2011 confirmed the forecast of a contraction of 0.2pc, according to the latest UK Statistical Bulletin. However, the breakdown showed positive contributions from household expenditure (following four consecutive quarterly falls) and from net trade, with negative contributions from inventories and business investment. The British government said this presents a more positive picture of the expenditure side of the economy…