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UK Economy Thaws In April, August Rate Rise In View

Published on Jun 29 2018 3:00 PM in Retail tagged: Trending Posts / Sales / UK economy / Paywall

UK Economy Thaws In April, August Rate Rise In View

Britain looks closer to shrugging off a weak start to 2018 that has kept Bank of England interest rates on hold, after official figures showed the services sector gathered steam in April and first-quarter economic growth was faster than thought.

However the outlook for growth remains modest, as businesses and households grapple with the uncertain impact of Britain's departure from the European Union in less than a year. Services output, which makes up four-fifths of Britain's economy, rose by 0.3% in April, its fastest pace since November 2017, the Office for National Statistics said.

Compared with a year earlier, services output was 1.6% higher, picking up speed from the first quarter when it grew at an annual rate of 1.2%.

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