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GDP expected to rise 0.9 per cent
THE UK economy is expected to show its strongest pace of quarterly growth in nearly four years when figures are published tomorrow (Tuesday, April 29).
Gross domestic product (GDP) is predicted to have risen by 0.9 per cent for the start of the year, bringing output close to reaching its pre-crisis peak six years ago.
Growth has not been as strong since the second quarter of 2010, when it reached one per cent.
It's hoped a renewed acceleration will mean the economy will finally achieve the level it last hit early in 2008.
It means the UK may be on the verge of finally recovering the ground lost in the prolonged downturn.
The update comes a year after fears the UK was about to plunge into an unprecendented triple-dip recession amid dire warnings from the International Monetary Fund about the impact of austerity policies.
But, instead, the UK is now expected to have recorded its fifth consecutive quarter of GDP expansion, accelerating from 0.7 per cent in the final period of 2013.