BRITAIN'S ECONOMY is currently growing at its fastest pace since 2000, according to latest estimates, but its people are saving less than previously thought.
The Scotsman reports the Office for National Statistics yesterday raised its estimates of how fast UK GDP is growing, suggesting the Bank of England may have to revised its outlook for interest rates. New methods for calculating the contribution of the NHS were largely responsible for the changes, the paper says. According to ONS' findings, GDP increased by 3.4% in the first quarter this year. Economists believe the revised figure could force BoE governor Mervyn King to raise his two-year inflation forecast in his next estimates - due in August. OTHER FINDINGS by the ONS were, h...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes