Investments  

UK growth expected to be at least 0.8 per cent

Ahead of the first estimate of the UK’s economic growth in the third quarter later this morning, experts have predicted growth of 0.8 per cent.

A reading of 0.8 per cent, combined with the 0.7 per cent growth in the second quarter of 2013, means that the economy would have experienced the best two consecutive quarters of growth since the first half of 2010.

Kathleen Brooks, research director at Forex.com said the positive data during the June to September period, including high Purchasing Managers’ index (PMI) data, suggests growth could be even higher than 0.8 per cent.

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However, she warned that if the figure was lower than expected, it would be so unexpected by the market that it could cause the pound to drop heavily against the dollar and other currencies.