UK GDP growth welcome but not so significant -BoE's Broadbent

LONDON Wed May 1, 2013 3:37pm EDT

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LONDON May 1 (Reuters) - A return to growth in Britain's economy in the first quarter of this year was welcome but did not have that much significance, Bank of England policymaker Ben Broadbent said on Wednesday.

"Given the amount of attention that was focussed on it, it's better that it should be up than down. But given the margin of error in these things, I don't think it has that much significance," he told reporters after a speech at the University of London.

Broadbent was responding to a question asking if the 0.3 percent increase in GDP in the first quarter had solidified his view that the British economy did not need more stimulus.

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