J.P.Morgan on Friday raised its forecast for the UK's annual economic growth after official data showed a surprise increase for the second quarter and bolstered bets of more interest rate hikes.
Data on Friday
showed growth of 0.2% in the second quarter, against the consensus for a flat reading in a Reuters poll of economists. JPM's UK economist Allan Monks said the surprise in gross domestic product figures cannot be dismissed as a bank holiday effect because final demand came in strong for the second quarter as a whole and real household incomes are set to improve in the latter half of the year.Reporting by Aniruddha Ghosh in Bengaluru; Editing by Devika Syamnath
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