BOE’s Carney: Recovery has Obviously Begun

U.K. economic growth probably accelerated to its fastest pace in more than three years in the third quarter as the recovery continued across all main industries.

Gross domestic product rose 0.8 percent from the second quarter, up from 0.7 percent in the previous period and the biggest increase since the second quarter of 2010, according to the median forecast of 40 economists in a Bloomberg News survey. The Office for National Statistics will publish the data at 9:30 a.m. in London today.

Bank of England Governor Mark Carney presents new quarterly forecasts on Nov. 13 and there are growing expectations officials will concede interest rates may have to increase earlier than forecast in August as momentum builds. Carney said yesterday there was “traction” in the economy.

Bloomberg

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.