There is “reason for some optimism” for the UK economy, the Bank of England’s deputy governor Charlie Bean said after last week’s GDP figures showed production expanded by 1%.
He also pointed to “signs of progress” from the eurozone and banking crises and inflation, which is staying down.
In related news, Reuters reports that British retail sales picked up faster than forecasted in October. The Tuesday survey provided further evidence of Britain’s economic recovery continuing.
(READ the story from BBC News)