September 2015 GDP estimates

Our monthly estimates of GDP suggest that output grew by 0.5 per cent in the three months ending in August after growth of 0.6 per cent in the three months ending in July 2015. Despite the slight softening, growth remains close to the estimated long run potential of the economy, but below the average rate of growth (0.7 per cent per quarter) observed since the start of 2013.*

* NIESR’s latest quarterly forecast (published 5th August 2015) projects GDP growth of 2.5 per cent per annum in 2015 and 2.4 per cent in 2016 (see http://niesr.ac.uk/media for the associated press release).