Accelerating GDP growth rate fans talk of interest rate rise but a 0.3% dip in manufacturing prompts warnings of two-speed economy
Britain’s economic growth bounced back in the second quarter of the year,fanning the debate approximately the timing of the first rise in interest rates since the financial crisis.
Growth in the three months to June stood at 0.7%, according to official figures, and following a below-par rise of 0.4% in the first quarter. The second-quarter number was in line with City expectations,but the services sector fuelled the growth as manufacturing declined, prompting warnings from economists that the recovery is being powered by a two-speed economy.
Continue reading...
Source: theguardian.com