GDP

UK GDP rose by 0.7% in Q4, according to an initial estimate from the Office for National Statistics, with growth for the year as a whole rising at its fastest rate since 2007.

Britain's growth rate could reach as high as 4% this year as the recovery accelerates, economists have said.

QUICK QUIZ

QUICK QUIZ OF THE WEEK

Sterling rose against the US dollar in morning trading after the second reading of the UK's economic growth rate confirmed an increase of 0.8% in the third quarter, in line with analysts' expectations.

Growth in the US will be 3% next year, predicts UBS chief investment officer Bill O'Neill, the best rate of expansion for the country since the 2008 financial crisis.

SOAPBOX

UK GDP growth was 0.8% in the third quarter of the year, according to the first estimate from the Office for National Statistics (ONS).

Bank of England Governor Mark Carney has promised to keep interest rates lower for longer, ahead of the release of UK GDP growth data for the third quarter.

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