UK economy showing strong growth
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A further interest rate rise could be due after data shows UK GDP grew strongly in the second quarter.
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The U.S. economy grew at a stronger  than expected pace during the final quarter of last year,  boosted by robust spending and slowing inflation that more than  offset the biggest decline in residential investment in 15  years, a government report on Wednesday showed.
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The US economy grew more quickly than previously thought in the three months to June, official figures suggest.
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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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Treasury chief Gordon Brown said Thursday that the British economy will continue to grow strongly in 2004 and that the government will meet key targets on public borrowing, bettering the expectations of many economic forecasters.
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The economy grew at its strongest pace in more than a year during the spring as international trade and business investment helped offset weakness in housing, the government said.
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The UK economy grew by 3.1% in 2004  after accelerating in the final three months of last year, according to official figures.
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The US economy grew at a strong pace of 4.0 percent in the second quarter, the government said Thursday in a revised estimate of gross domestic product for the April-June period.
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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 UK's current account deficit, a key economic indicator, widens to a record level, official data shows.
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U.S. economic growth during the  second quarter of the year was stronger than previously  thought, the Commerce Department reported on Wednesday, partly  because businesses built up inventories at the strongest rate  in four years.
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The U.S. economy grew at a stronger than expected pace during the final quarter of last year, boosted by robust spending and slowing inflation that more than offset the biggest decline in residential investment in 15 years, a government report on Wednesday showed.
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The UK economy grew at an annual rate of 3% in the first quarter of the year, raising the chances of more rate hikes.
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There is a "strong possibility" interest rates in the UK will rise in February, according to an overview business survey.
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Britain's economy expanded at a faster than expected rate towards the end of 2004, official figures showed, but growth for the year as a whole just missed government targets at 3.1 percent.
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The Irish economy continues to expand at a much faster pace than its eurozone neighbours despite a slowdown in its housing market.
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UK business confidence is increasing despite higher interest rates, a survey by accountants KPMG finds.