Investing.com - The U.K. economy grew in line with expectations in the fourth quarter of 2013, underlining optimism over the country’s economic outlook, preliminary official data showed on Tuesday.
Jerusalem Post Annual Conference. Buy it now, Special offer. Come meet Israel's top leaders
In a report, the Office for National Statistics said gross domestic product expanded by a seasonally adjusted 0.7% in the fourth quarter, matching forecasts. The U.K.’s economy grew by 0.8% in the preceding quarter.
Year-over-year, U.K. economic growth grew 2.8% in the final three months of 2013, in line with estimates. The U.K. economy expanded at an annualized rate of 1.9% in the preceding quarter.
Following the release of that data, the pound erased gains against the U.S. dollar, with GBP/USD easing down 0.08% to trade at 1.6571, compared to 1.6592 ahead of the data.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.6%, France''s CAC 40 advanced 0.6%, the FTSE 100 edged up 0.25%, while Germany''s DAX tacked on 0.55%.