Traders on the London stock market will be greeted by key British economic growth data on returning to their desks Monday, following a sharp rally for share prices. The FTSE 100 ended the week at 5,132.94 points, up 6.09 percent compared with the previous Friday.
Next Monday sees the final official estimate of first-quarter GDP data. The second estimate in late May revealed that Britain's economy had strengthened at a faster pace than previously thought in the first three months of 2010.
Gross domestic product (GDP) - the value of all goods and services produced in the economy - grew by 0.3 percent in the three months to March compared with the prior quarter.
Since publication of the second GDP estimate, Britain's new coalition government has forecast that the economy will grow by 1.2 percent this year and 2.3 percent in 2011. Earlier this week, the International Monetary Fund cut its growth forecasts for Britain. The IMF predicted that GDP would grow by 1.2 percent this year, followed by 2.1 percent in 2011. The new forecasts compared with the previous estimates for expansion of 1.3 percent and 2.5 percent respectively.
Next week will also see the publication of British inflation and unemployment data.
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