Economy has top growth

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UK tops G20 economic growth rankingsThe UK economy grew at the fastest rate among the G20 nations in Q2, according to figures from the Organisation for Economic Co-operation and Development (OECD). The British economy expanded 4.8% between April and June, with this almost double the 2.7% recorded by Italy, which ranked second, and outpacing the 1.6% growth seen in the US and China’s 1.3% increase. However, the OECD report also shows that Britain’s output has been one of the weaker performers among the G20 across the whole pandemic, with GDP down 4.4% at the end of Q2 compared to Q4 2019, the last pre-pandemic quarter. GDP across the entire G20 is 0.7% above pre-pandemic levels, with China and Turkey driving the recovery with GDP up 8.2% and 8.8% respectively.

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