The ONS' second estimate of GDP in Q4 of last year showed that the economy carried more momentum into 2017 than previously believed. But the expenditure breakdown revealed some concerning developments and full-year growth for 2016 was revised down.
Meanwhile, the trajectory for the public finances shifted in an unexpectedly positive direction. Borrowing for 2016-17 looks set to come in ?10bn or more below the OBR's last forecast, boosting the Chancellor's room for manoeuvre as he prepares for his first Budget on 8 March.
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Weekly Economic Briefings > Uk Weekly Economic Briefing