U.K. economic growth is expected to have doubled in the second quarter of the year from the first, driven by a booming services sector, according to analysts – but some warned against cracking open the champagne just yet.
Analysts surveyed by CNBC forecast gross domestic product (GDP) growth of at least 0.6 percent in the second quarter. The official data, to be released on Thursday, follows expansion of 0.3 percent in the first three months of the year.
RBS U.K. economist Ross Walker said the services sector was driving growth in Britain. The purchasing managers’ index data (PMI) for the sector showed activity at a 27-month high in June.