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Business in Berkshire
c/o LiaiseOnline Limited
1 Clewer Hill Road
Windsor
Berkshire
SL4 4BU
Tel: 0845 300 8824
Email
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c/o LiaiseOnline Limited
1 Clewer Hill Road
Windsor
Berkshire
SL4 4BU
Tel: 0845 300 8824
View map
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UK economy keeps on growing
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Business is still booming around the UK as new figures show that the economy grew by around 0.6 per cent in the three months to May.
The latest estimate of economic expansion from the National Institute of Economic and Social Research (Niesr) was slightly up on the 0.5 per cent growth estimated for the three months to April. The figures come soon after analysis by the Office of National Statistics showed that UK industrial output fell by 0.6 per cent in April. Niesr said that the acceleration in economic growth in the quarter to May showed that the Bank of England should have raised interest rates in order to stop the economy from overheating, rather than keeping the base rate at 4.5 per cent. In a statement, Niesr said: "Seen in the global picture of inflationary pressures this suggests that interest rates should have been raised." The US Federal Reserve and European Central Bank have already increased interest rates in order to ease inflation.
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