UK DATA: NIESR: UK Dec-Feb GDP +0.2% Vs -0.2% In Nov-Jan
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UK output returned to growth in the three months through Feb but
was still running at a below trend rate, the National Institute of
Economic and Social Research said today. The minutes of the Feb
Bank of England Monetary Policy Committee said some members wanted to
wait “to see indicators of how the economy performed at the start of the
year to help assess whether or not the decline in GDP in the fourth
quarter presaged sustained economic weakness.” The NIESR data, showing
sub-trend growth, leave it open to doubt whether the recovery will be
robust enough to deliver the expected tightening in monetary policy.