More from BoE's Bailey: Business surveys are probably better guide to UK outlook ...Middle East

Business surveys are probably better guide to UK outlook than recent GDP data.

GDP is always a very lagging indicator.

Pattern from forward-looking surveys is not as strong for outlook as latest GDP.Official data showing negative productivity growth in the UK last year is a puzzle, as it is usually associated with severe recession.Still a very severe health warning on quality of official labour force survey data. This article was written by Giuseppe Dellamotta at www.forexlive.com.

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