Britain outpaced Germany in first quarter growth

Economists expect revisions to first-quarter UK GDP figures due to be released on Thursday. A Bloomberg survey found forecasters expect growth numbers to be revised up from 0.3% to 0.4%. The revisions would put the UK's growth ahead of Germany's in the first quarter of 2015. Bank of America Merrill Lynch and Daniel Stewart & Co predicted that the ONS would revise the first-quarter GDP growth figures to 0.5%. First-quarter estimates of growth are typically revised upwards as the ONS includes more data in its calculations. The preliminary estimate incorporates less than half the data of the final releases. Data released since the first GDP numbers have shown that industrial production rose by 0.1% in the first quarter, rather than falling by 0.1% in the period. Similarly, construction's decline has been revised, from a 1.6% fall to just 1.1%.


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