The Bank of England had already pencilled in a 0.7% expansion, so today’s data merely confirm the growth trajectory built into the Bank’s forecasts and do little to change the outlook for interest rates. However, by the same measure, the data support the case for rates to start rising sooner rather than later.
Tuesday, 28 July 2015
UK economy shows impressive rebound in second quarter
Solid growth in the second quarter is welcome news that the UK economy continues to expand at an impressive pace in spite of headwinds from the general election, the stronger pound and eurozone worries.
The Bank of England had already pencilled in a 0.7% expansion, so today’s data merely confirm the growth trajectory built into the Bank’s forecasts and do little to change the outlook for interest rates. However, by the same measure, the data support the case for rates to start rising sooner rather than later.
The Bank of England had already pencilled in a 0.7% expansion, so today’s data merely confirm the growth trajectory built into the Bank’s forecasts and do little to change the outlook for interest rates. However, by the same measure, the data support the case for rates to start rising sooner rather than later.
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