According to revised official figures released today, the UK's economy grew at a faster pace than initially estimated last year.
In the final quarter of 2014, the economy grew by 0.6%, up from the previous estimate of 0.5%, the Office for National Statistics said.
The increase meant growth for the year was 2.8%, higher than the earlier estimate of 2.6%.
Strong UK export figures helped to drive the increase, the official data suggested.
Meanwhile, the U.K.’s National Statistics Office said that the U.K. current account recorded a seasonally adjusted deficit of £25.3 billion in the fourth quarter, narrowing from a deficit of £27.7 billion in the third quarter, whose figure was revised from a deficit of £27.0 billion, while economists had expected the current account deficit to narrow to £21.5 billion in the fourth quarter.
The current account deficit narrowing occurred mainly due to a narrowing in the deficit on the trade account, partially offset by a widening in the deficit on the secondary income account.
