Has Britain's economy turned a corner?

The Bank of England announced that it expects growth to come in higher than it originally expected - the first time it has done so since the start of the financial crisis.

The Bank of England has raised its growth forecast for the first time since before the financial crisis. It now expects GDP to expand by 1.1%, rather than 0.9%. This followed a run of encouraging data, which has fuelled hopes that growth is finally rebounding.

Surveys tracking the manufacturing, services and construction sector all rose in April, with the services sector now above the level that separates expansion from contraction.

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