GDP figures show forward momentum
THE economy has returned to the more buoyant levels seen in 2014, with GDP in the second quarter growing by 0.7%.
It follows a sluggish first-quarter increase of 0.4%, the joint-lowest performance in two years.
Today’s announcement will add to expectations that an interest rate rise is getting nearer, especially as the Bank of England’s governor Mark Carney last week said that rates could rise “at the turn of this year” after six years at 0.5%.
The rise in the three months to June was driven by the production and services sector, with construction showing flat growth and agriculture shrinking.
