UK factories pick up pace; BOE on track to up rates

London

BRITISH factories had their strongest two months of 2017 in July and August, suggesting the Bank of England remains on track to raise interest rates soon, but the deficit in trade in goods hit an all-time high.

Despite the improvement in manufacturing, the data showed Britain's economy remained in a low gear in the third quarter after suffering its slowest first half-year since 2012.

The BOE said last month that most of its policymakers thought it was likely that they would need to raise rates for the first time in a decade in the coming months. It believes last year's Brexi…