|
|
Article: Consumer spending soars.(Business)
- Article from:
- The Birmingham Post (England)
- Article date:
- August 26, 2006
CopyrightCOPYRIGHT 2006 Birmingham Post & Mail Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: By John Duckers Business Editor
Increased consumer spending pushed economic growth to its quickest rate in two years in the second quarter, official data showed yesterday.
The office for National Statistics said GDP rose 0.8 per cent on the quarter and 2.6 per cent on the year, unrevised from the initial estimate and in line with forecasts.
The figures are likely to keep intact expectations the Bank of England will raise interest rates again before the end of the year - they jumped a quarter of a per cent to 4.75 per cent earlier this month. ...