LONDON (UK Economy)- On Tuesday, the National Institute of Economic and Social Research (NIESR), a think tank said, “Britain’s economy probably gathered pace in the second quarter of 2018 and will quicken again over the coming months”. It said it expected to see the growth of 0.5 percent in the third quarter, above the consensus in a Reuters poll of economists that pointed to the growth of 0.3 percent.

Head of UK macroeconomic forecasting at NIESR, Amit Kara, said. “The economy is showing clear signs of recovering from the unexpected slowdown in the first quarter. Taking the business surveys together, we believe that this recovery will be most noticeable in manufacturing and construction where output should start to increase once more”.

The gross domestic product was likely to have expanded at a quarterly rate of 0.4 percent in the April-June period, compared with growth of 0.2 percent in the first quarter of the year, NIESR said.

Related Articles
Next Story
Going Viral
Britain’s Armed Forces’ Size Fallen For Ninth Consecutive Year

Britain’s Armed Forces’ Size Fallen For Ninth Consecutive Year

by Susmita August 16, 2019
The new Ministry of Defence figures has revealed that the size of Britain’s armed forces has fallen for the ninth consecutive year. The Army, the RAF and the Royal Navy have all seen a decline in the number of fully-trained personnel and the Army experiencing the biggest fall. The government called it a “crisis” in recruitment and retention. It has been claimed by the Ministry of Defence that the armed...