Daily Journal masthead

UK economy grew faster than earlier estimated in the first quarter of 2015

bug
Share/Save/Bookmark

LONDON — Britain's economy grew faster than previously estimated in the first quarter of 2015, thanks to a rise in construction output.

The Office of National Statistics says gross domestic product by 0.4 percent in the January-March period, better than a previous estimate of 0.3 percent. The agency also says that the economy grew by 3 percent in 2014, up from earlier estimates of 2.8 percent.

Chris Williamson, chief economist at Markit, says the upward revision will heap pressure on Bank of England policymakers to consider hiking interest rates — particularly as there is now evidence of rising incomes and pressure on pay.

But he says such a rate rise still looks a long way off — particularly with heightened uncertainty that Greece might leave the European Union.

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Subjects:

Places:

 

Follow Daily Journal:

All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.