From today's Daily Telegraph...
Britain's economy grew at a stronger-than-expected 0.6% last quarter, dampening hopes of another interest rate cut.
Figures from the Office for National Statistics show the economy shot ahead in the third quarter of 2001, growing faster than the forecast 0.5%, and more strongly than the 0.4% recorded in the second quarter.
Royal Bank of Scotland economist Geoffrey Dicks said: "They were surprisingly strong figures".
He said the data showed UK consumer demand was strong enough to keep the economy growing, despite falling manufacturing output and the global economic slowdown.
HSBC economist John Butler said: "This is an impressive number. The UK has outperformed the rest of the G7 for the first half of this year and looks likely to have done the same in the third quarter.
"It gives a reality check about how bad the economy is - there is a lot of doom and gloom around, but the UK is holding up well."
BBC News 24 announced the full figures - 0.6% in the third quarter, 2.2% annualised.
The National Institute of Economic and Social Research predicts 2.3% for full year 2001 and 2.1% for 2002.
This ain't no recession. This is the long-term growth trend of the UK economy, ie. stable sustainable growth.
The Q4 figures will make interesting reading come January. If they have held up, then we should be OK...
(edited to correct and add new figures)
[ 26 October 2001: Message edited by: foghorn ]