May 24, 2018 / 8:32 PM / 6 months ago

UK's second-quarter GDP data may not resolve doubts over first-quarter weakness - Carney

Trains pass near construction work taking place around Battersea Power Station in London, Britain, May 22, 2018. REUTERS/Toby Melville

LONDON (Reuters) - The Bank of England’s doubts over whether first-quarter economic growth was really as weak as official data showed may well not be resolved by the next quarter’s set of growth numbers, BoE Governor Mark Carney said on Thursday.

The BoE said earlier this month that it believed underlying growth in the economy in the first three months of 2018 was faster than the 0.1 percent calculated by the Office for National Statistics.

Resolving who is right was unlikely to be swift, Carney said in a question and answer session at the annual dinner of London’s Society of Professional Economists.

“We won’t necessarily find out in Q2 data. There are other things that could affect the Q2 data. We will find out in the fullness of time,” Carney said, joking that he would need to be invited back in four years to give a full answer.

Reporting by David Milliken; Editing by Matthew Mpoke Bigg

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