GDP Data Shows UK Has Exited Recession at a Quicker-Than-Expected Pace

Gordon Brown should be sitting happy today, as Britain is reportedly out of their recession at a quicker pace than forecasts called for, according to a report from Bloomberg.

The Office for National Statistics said that GDP for the island nation grew at 0.3% -- better than the estimated 0.1%. Bloomberg's survey called for a median growth rate of 0.2%.

Brown is up for re-election in weeks, and is trying to convince both the Labour government and voters that his policies are the best to solidify a recovery. Brown can uphold the election until June, but Labour documents point to a vote coinciding with authority polls on May 6, 2010.

The Bank of England recently cut growth forcast for this year from 2.2% to 1.4%, and Governer Mervyn King still has a £200 billion [$300 billion] asset-purchase program in place.

Despite the news, the GBP is down 0.23% versus the dollar, down 0.47% versus the yen, and 0.89% lower versus the Swiss franc.

You May Also Be Interested In

• FDA Committee Recommends To Widen Access To Bpc-157 Peptide
• Trump Says He's Close To Decision On Massive Iran Attack - Axios
• ECB Officials Are Ready To Raise Interest Rates In September - Bloomberg