British economy to outpace eurozone

The British economy, Europe’s second-largest, may outpace the euro region for a fifth year in 2004, suggesting the central bank will raise interest rates more quickly than its European counterpart, surveys of economists showed.

British gross domestic product may rise 2.8% next year from an estimated 2.1% in 2003, according to the median forecast of 28 economists surveyed by Bloomberg News. The 12 euro nations may grow 1.8%, the European Commission predicts.

Europe hasn’t matched Britain’s growth since 1999.