UK GDP Posts 2.6% Growth in 2014

The UK’s economy grew by 2.6% last year, the fastest pace since 2007 and up from 1.7% in 2013, official figures have shown.

Figures from the Office for National Statistics (ONS) showed the economy grew by 0.5% in the final three months of 2014.

That was a slowdown from 0.7% growth recorded in the previous three months.

Economists were mixed over whether the loss of momentum in the final quarter might be temporary or prolonged.

The ONS’s chief economist, Joe Grice, said it was “too early to say” if this slowdown would persist.

“The dominant services sector remains buoyant while the contraction has taken place in industries like construction, mining and energy supply, which can be erratic,” he said.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza