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UK economy grows 0.7%, ONS estimates

The UK economy grew by 0.7% during the third quarter of 2014, the Office for National Statistics (ONS) said today.

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George Osborne: UK is 'leading the pack'

Chancellor George Osborne has welcomed today's GDP estimate, saying it shows the UK is "leading the pack" in the uncertain global economy.

The Chancellor published several tweets immediately after the figures came out, describing the economic outlook as "very encouraging".

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