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George Buckley

Britain Bounces Back ... Slowly

British manufacturing grew much more strongly than expected in June, suggesting the country's recovery is broadening just as the Bank of England prepares to set out its plan for steering the economy back to health.Car sales also rose, house prices continued to climb and British retailers had their best month since 2006.Along with Monday's purchasing managers index showing the services sector growing at its fastest in more than six years, it all confirmed a rebound that was unheralded just a few months ago. There are some concerns, however, that much of it is being driven by easily lending and increased debt.Manufacturing rose by 1.9 percent in monthly terms, stronger than even the highest forecast in a Reuters poll and its fastest growth since July of last year.All 13 components of the manufacturing index showed growth for the first time since June 1992, the Office for National Statistics said.Output in the industrial sector overall - which makes up about one sixth of Britain's economy...

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