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

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