UK economy is picking up pace, NIESR Predicts

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.

by Sawan Kumar on July 13, 2018

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