NIESR Press Note – Head of UK macroeconomic forecasting reacts to the latest official GDP data released today

Published: 26th January 2018

 

 

Head of UK macroeconomic forecasting reacts to the latest official GDP data released today

 

NIESR’s Head of UK macroeconomic forecasting, Amit Kara said: “UK GDP rose by 0.5 per cent in the final quarter of 2017, slightly faster than the 0.4 per cent outturn in the third quarter. The economy expanded by 1.8 per cent in 2017.”

 

He added: “Economic growth picked up in the second half of 2017 after weak growth in the first six months. The recovery was driven by both the manufacturing and the dominant service sectors, supported by a buoyant global economy, while construction output continued to lag. Looking ahead, we expect growth to remain close to current levels as the economy benefits from the tailwinds of global growth on the one hand and the headwind of Brexit-related uncertainty on the other”. 

 

 

ENDS

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Notes for editors:

 

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