British 2013 economic growth downgraded

The British economy is still improving, but not as well as had been expected, with growth downgraded to 1.8 per cent in 2013.

Britain's economy grew by less than previously thought last year, but still registered the fastest rate of growth since before the financial crisis, revised official data showed Wednesday.

The nation's gross domestic product (GDP) expanded by 1.8 per cent in 2013, down from the previous growth estimate of 1.9 per cent, the Office for National Statistics (ONS) said in a statement.

The economy meanwhile grew by 0.7 per cent in the fourth quarter of 2013, or October-December period, compared with the previous three months.

That was unchanged from the previous figure and followed 0.8-per cent expansion in the third quarter.