UK economy grows at the fastest pace in four years

[AtW]

The quarterly leap in gross domestic product (GDP) was almost double the 0.6pc expected by the City and the highest since the first quarter of 2006, the Office for National Statistics (ONS) said.

The stellar advance was driven by the services sector - including banking, construction and the public sector - which accounts for three quarters of the economy and saw its best quarter in more than three years with growth of 0.9pc.

Overall the UK posted its strongest annual growth – 1.6pc – since before the recession at the beginning of 2008.

The 1.1pc advance seen over the April-to-June period – while equalling 2006 – was last higher in 1999, the ONS said.

The pound jumped more than a cent against the dollar to $1.54 on the news.

The stronger than expected perfomance is likely to provide ammunition to those calling for the Bank of England to consider raising interest rates from their record low 0.5pc.

One member of the Monetary Committee, Andrew Sentance, is already calling for rate rises.

More: UK economy grows at the fastest pace in four years - Telegraph

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Looks like Nu Liebor saved the economy afterall!!!

[SueEllen]

Hasn't there been a member of the Monetary committee calling for rate rises for the past year?

[AlfredJPruffock]

Anohter boom is round the corner - Time to buy up that appartment above the Kebab Shop ... you know the one ?

What happened to Parity with the Euro - some folks will believe anything ...

[TimberWolf]

Even if interest rates did go up 0.25%, the halcyon days of getting a positive real interest rate on money in the bank look years/decades/generations* away.

* delete as applicable

[AlfredJPruffock]

* * * * * * * * * * * * * * * * * ** * * * * * * * * * * * * * * *

I disagree with whatever you may say -or think even.


That established - what this news means is that beyond doubt - we are ALL going to live happily ever after.

So you can start this weekend - max those cards and to hell with overdraft - spend spend spend without a care in the World.

Thank goodness weve got a Tory Governement !

[gingerjedi]

The quarterly leap in gross domestic product (GDP) was almost double the 0.6pc expected by the City and the highest since the first quarter of 2006, the Office for National Statistics (ONS) said.

The stellar advance was driven by the services sector - including banking, construction and the public sector - which accounts for three quarters of the economy and saw its best quarter in more than three years with growth of 0.9pc.

Overall the UK posted its strongest annual growth – 1.6pc – since before the recession at the beginning of 2008.

The 1.1pc advance seen over the April-to-June period – while equalling 2006 – was last higher in 1999, the ONS said.

The pound jumped more than a cent against the dollar to $1.54 on the news.

The stronger than expected perfomance is likely to provide ammunition to those calling for the Bank of England to consider raising interest rates from their record low 0.5pc.

One member of the Monetary Committee, Andrew Sentance, is already calling for rate rises.

More: UK economy grows at the fastest pace in four years - Telegraph

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Looks like Nu Liebor saved the economy afterall!!!

You snuck that in to see who bites.

[Doggy Styles]

Yes but are we making any more widgets?