Friday, May 25, 2007
Inflation is up to 2.9 in May
FT.COM: UK growth endorses rate rise UK growth endorses rate rise expectation
The UK economy grew by 0.7 per cent in the first three months of the year compared to the previous quarter, the Office for National Statistics confirmed on Friday.
The second reading of UK gross domestic product, which includes estimates of expenditure, was in line with forecasts. It supports the Bank of England’s assumption, expressed in the minutes of its May monetary policy meeting released this week, that the UK economy is enjoying robust growth.
Compared to the first quarter of 2006, the economy expanded 2.9 per cent, revised up from 2.8 per cent.
Posted by jj @ 04:28 PM (354 views) Add Comment
1 Comment
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1. Pr said...
2.9% GDP, not 2.0% inflation, tho there is likely to be a knock on effect.