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UK economy brightens as Bank of England nears rate decision

Reuters  |  LONDON 

By Andy Bruce and William SchombergLONDON (Reuters) - Britain's economy picked up a bit of speed in May after slowing in early 2018, according to official figures that will give the Bank of England more confidence about raising interest rates next month for only the second time in over a decade.A new monthly reading of gross domestic product showed the world's fifth-biggest economy grew by 0.3 percent in May from April, the strongest performance since November and up from growth of 0.2 percent a month earlier.The figure was in line with the forecast in a Reuters poll of economists, but ...

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First Published: Tue, July 10 2018. 20:23 IST