Wednesday, 10 February 2010

Another sign of a better final quarter

Manufacturing output was reported to have grown strongly in the final month of 2009 which provides further evidence to suggest that the UK economy emerged from recession at a stronger than originally report pace in the  final quarter of last year.

In other news today the Bank of England continued to sound cautious on the outlook for GDP growth but warned that in the short term inflation would continue to rise.  This is not surprising given the rapid fall in prices twelve month's ago and rising VAT in January 2010.  They did not give much away as to when interest rates will start to rise...but the end of this year (November) is the best guess.

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