UK Growth Confirmed at 0.8 Percent in Q1

The UK economy grew by 0.8% in the first three months of 2014, official figures have confirmed, as households spent more and firms lifted investment.

The latest figures confirm the initial estimate from the Office for National Statistics (ONS) and also confirm the economy grew 3.1% from a year earlier.

The UK is now one of the fastest growing western economies.

Separate figures showed that public sector borrowing in April rose by nearly 2% to £11.5bn.

The UK’s economy remains 0.6% smaller than its peak in early 2008, but analysts now expect this milestone to have been passed when the ONS publishes its estimate of second quarter GDP in July.

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