UK economy motors ahead
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Business & money: Gross domestic product rose by 0.8% in the three months to June.
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WASHINGTON - The economy headed into the end of the year with good momentum, expanding at an annual rate of 4 percent in the third quarter, a faster clip than previously thought.
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The British economy grew by 3.7 percent in the second quarter of 2004 compared with the same period of the previous year, according to unrevised published official figures.
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Business & money: Â· Data shows Britain in line for prolonged slowdownÂ· Balance of payments runs to shortfall of Â£20bn
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The British economy grew at a faster than expected annual rate during the second quarter of 2007, official data showed on Wednesday.
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The British economy grew by 3.1 percent in 2004, ending the year on a strong note despite continued declining output from production industries and the worst Christmas for retailers in more than 20 years.
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Sterling has continued to outperform the dollar as economic data suggested that the Bank of England's (BoE) interest rate hikes have failed to deter homebuyers.
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Investor's Business Daily - Last year, the United Kingdom was still coasting on an uninterrupted growth cycle that began in 1992. It averaged annual GDP growth of 2.5% for years. In September, the British pound hit a high of $2.03. Many expected the British economy to kick into overdrive and reach a 3% increase for 2007.
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There's momentum ahead, despite this quarter's soft numbers.
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The pound and the euro were stable Tuesday ahead of rate decisions by the European Central Bank and Bank of England on Thursday.
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Britain&#39;s economy would continue to grow at a healthy pace over the next two years, but vigilance was required over inflation, the OECD said Thursday.
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UK retail sales rose slightly more than expected last month, as higher interest rates fail to bite, official figures show.
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Britain's economy has grown by 0.8 percent during the second quarter of 2006 compared with the previous three months.
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Britain's economy expanded by 0.8 percent in the third quarter of this year, according to official data published Friday.
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The economy revved up its engine in the third quarter and advanced at an annual rate of 4 percent -- faster than expected. The reading on gross domestic product, released Wednesday by the Commerce Department
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The pound rose against the dollar and was steady despite further evidence of slowing consumer credit and mortgage lending emerging in Britain, adding to the argument that interest rates have hit a peak.
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Average house prices in the UK are accelerating again,  the government's figures indicate.