December 2012 GDP estimates

Our monthly estimates of GDP suggest that output grew by 0.1 per cent in the three months ending in November after growth of 0.1 per cent in the three months ending in October 2012. We do not expect such an anaemic economic performance to continue into next year. Growth is forecast to return in 2013, but not at speeds that will begin to close the UK’s negative output gap and bring down the rate of unemployment in that year.

 

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