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Slight adjustment to British growth rate

Bank of England - Pressure to cut rates
Bank of England - Pressure to cut rates

The British economy grew by 3.0% last year, slightly less than a previous calculation by the country's government.

The UK's Office for National Statistics (ONS) said in a third and final estimate that the economy's growth was down slightly from its previous estimate of 3.1%.

Britain's economy expanded by 0.6% in the last three months of 2007, marking the slowest quarterly rate for more than a year, the office added. The figure was unchanged from the previous estimate.

Analysts said the data would support the case for another interest rate cut from the Bank of England, which held British borrowing costs at 5.25% earlier this month.

The BoE had cut rates by a quarter-point in both February and December amid growing concerns over the risk of a sharp slowdown in economic activity.