Figures from the Office for National Statistics suggest the economy may be expanding at a better rate than expected.
The UK economy provided some unexpected positive news today as high street sales grew by more than anticipated and the public finances continued to outperform.Analysts had expected a 0.4% contraction.
The positive performance suggests the wider economy is likely to grow faster than expected in the first quarter of the year.Some economists suggested the leap could be evidence of consumers- though the fact that food sales declined may discount this possibility. The Office for National Statistics also revealed that government borrowing had dropped to its lowest level in 17 years this financial year, as tax revenues continue to come in above expectations.More from Business
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