Q4 growth better than expected
The UK economy grew faster than expected in the fourth quarter of 2005 according to the Office of National Statistics (ONS), strengthening expectations that interest rates will remain on hold.
A strong services sector caused GDP to rise by 0.6 per cent, beating analyst's predictions of a 0.5 per cent increase.
But while the growth was the highest quarterly rise in the past year, the overall figure for GDP during 2005 was just 1.8 per cent, the lowest since 1992.
However, it did surpass Gordon Brown's revised forecast of a 1.75 per cent growth rate. The Chancellor originally predicted that the UK economy would grow by 3 to 3.5 per cent in 2005.
The ONS data will likely prompt analysts to predict a steady 4.5 per cent interest rate for the next few months.
Minutes from the last Monetary Policy Committee meeting revealed today found that there was just one vote in favour of changing interest rates in January. | 
