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U.K. Consumers, Exporters Drive Economy to 0.6% Growth
Consumers and exporters steered the economy into its longest stretch of uninterrupted growth since 2008. Household spending rose 0.6 in the fourth quarter and exports jumped 4.6 percent, the most since 2013, the Office for National Statistics said in London today. Gross domestic product expanded 0.6 percent, more than the 0.5 percent previously estimated, for an eighth consecutive quarterly gain. While the U.K. economy powers ahead, the Bank of England says it will keep the key interest rate at a record low as it monitors the implications of the unprecedented slide in the inflation rate to zero. That’s a boon for ... (full story)