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Britain's recovery strengthens, house prices rise

LONDON | Tue Jun 11, 2013 3:01pm BST
(Reuters) - British house prices are rising at their fastest pace in three years and the country's lagging industrial sector is now contributing to the economy's recovery, data showed on Tuesday.

After a surprisingly strong services survey last week, the figures suggest incoming Bank of England chief Mark Carney will inherit an economy already on the way to what he has termed "escape velocity".

Britain's economy grew 0.3 percent in the first quarter of this year and looks on track to achieve possibly double that between April and June. Still some way behind the United States, Britain seems to be pulling away from its euro zone neighbours.

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