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BCC: UK economy recovers faster

Great Britain's economy will recover above its pre-recession 2008 peak in Q3 2014, the British Chambers of Commerce (BCC) said on Thursday.

The economy will expand at its fastest rate in seven years in 2014, thanks to strengthening household consumption. The business group forecasts economic growth to rise to 2.7% in 2014, an upgrade from the forecasts of 2.2% it made in August.

A year ago the expectations were much gloomier: the BCC predicted the pre-recession peak would not be reached until 2016.

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