(MENAFN) British GDP growth is expected to remain robust throughout the rest of 2014, Xinhua reported
The economy in the country became weak through 2011 and 2012, but took many by surprise last year with four quarters of growth, for a 1.9 percent growth for the year
So, the size of these revisions, up or down, can affect the forecasts that economists make for future growth
The Bank of England (BOE) forecasts strong growth for 2014, at 3.4 percent, ahead of many other economists who predict a growth of between 2.4-2.7 percent for 2014
Deutsche Bank UK chief economist said: "Because the Bank assumes that economic growth will be revised up at the end of last year, the stronger carry over into 2014 allows them to forecast a far higher rate of growth for this year than other forecasters -- 3.4 percent compared to our own view and the average of independent forecasters of 2.7 percent.
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