... GDP growth, falling unemployment and inflation close to the 2% target, have continued in the UK economy in the second quarter of 2014. UK GDP growth has been one of the strongest and least volatile among the major advanced economies since 2Q13. According to the Office for National Statistics (ONS), UK GDP rose by 0.8% in 2Q14, representing the fifth consecutive quarter of positive growth and the longest positive run since the financial crisis. This also means total economic output is now 0.2% larger than at its previous peak in 1Q08. Over the last few quarters employment has continued to rise steadily. As a result, unemployment fell to 6.5% in the three months to May 2014. However, individual insolvencies in England and Wales were 27,029 in 2Q14, up 5.1% on the same period last year - the steepest rise in more than four years, according to ONS figures. The UK consumer price index (CPI) increased to 1.9% in June (from 1.6% in March) and continues...
