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mpc: 11 In the United Kingdom, overall GDP growth in the fourth quarter was unrevised, in the second release, at 0.9% at market prices and 0.8% at basic prices. Surveys remained strong, though less consistently so than a month ago, and still suggested growth of over 1% in the first quarter of 2004. Revisions to earlier data had raised the estimated level of GDP at basic prices by around 0.3% by the fourth quarter, with much of this revision falling in the first half of the year. Interpreted mechanically, this implied an equal reduction in spare capacity. But the Committee's view on capacity was based on a wider range of considerations; other information on capacity, and the fact that past inflation was unchanged, argued against such an interpretation. This month's special survey of capacity utilisation by the Bank's regional Agents indicated few pressure points; indeed, it suggested that there might be rather more scope for average hours of work to increase, should the need arise, than had been allowed for in the Committee's February projections.