Following the Bank of England’s decision to hike interest rates by 25 basis points last week, the UK is set for a busy week ahead, especially on Friday.

Economic data includes the newly introduced monthly GDP figures as well as the preliminary GDP report for the second quarter.

The UK’s economy is forecast to rise at a pace of 0.4% during the quarter ending June 2018. This marks a strong rebound from the first quarter, where GDP advanced at a revised pace of 0.2%.

On an annualized basis, the UK’s GDP is expected to rise 1.3% on the year. This marks a slight increase from the 1.2% annual GDP growth rate registered just the month before.

The rebound in the second quarter will no doubt ease pressure off the BoE officials.

Besides the GDP report, the monthly industrial and manufacturing production reports are also expected to be released. Industrial output has remained mixed as the sector declined 0.4% in the previous month.

Manufacturing activity on the other hand was seen advancing 0.4% in the previous month following a strong declined of 1.3%.