Britain's economy grew faster than previously estimated in the first quarter of 2015, thanks to a rise in construction output.
The Office of National Statistics says gross domestic product by 0.4 percent in the January-March period, better than a previous estimate of 0.3 percent. The agency also says that the economy grew by 3 percent in 2014, up from earlier estimates of 2.8 percent.
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Chris Williamson, chief economist at Markit, says the upward revision will heap pressure on Bank of England policymakers to consider hiking interest rates — particularly as there is now evidence of rising incomes and pressure on pay.
But he says such a rate rise still looks a long way off — particularly with heightened uncertainty that Greece might leave the European Union.