More from BoE’s Bailey: Business surveys are probably better guide to UK outlook

• Business surveys are probably better guide to UK outlook than recent GDP data.

GDP is always a very lagging indicator.

• Pattern from forward-looking surveys is not as strong for outlook as latest GDP.
• Official data showing negative productivity growth in the UK last year is a puzzle, as it is usually associated with severe recession.

This article was written by Giuseppe Dellamotta at www.forexlive.com.