On Wednesday, BoE governor Andrew Bailey (pic) said he thought the economy would regain its pre-pandemic level of output in early 2022 – a month or two later than the BoE had forecast in August. Despite the slowdown, the British central bank has signalled that it is moving towards a first interest-rate hike since the pandemic as it expects inflation to head above 4%
LONDON: Britain’s economy grew by more than previously thought in the April-June period before what looks like a sharp slowdown more recently as post-lockdown bottlenecks, including a shortage of truck drivers, mount.
Gross domestic product (GDP) increased by 5.5% in the second quarter (Q2), the Office for National Statistics (ONS) said, stronger than its preliminary growth estimate of 4.8%.
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