The UK Economy - forecast summary

| Publication date: 10 May 2017 | Theme: Macroeconomics | NIESR Author(s): Piggott, R | External Author(s): Kirby, S, Carreras,O, Warren, J | Journal: National Institute Economic Review Issue 240 | Publisher: Sage Publications, London
  • GDP is forecast to grow at a rate of 1.7 per cent this year and 1.9 per cent in 2018.
  • Consumer price inflation is projected to peak at 3.4 per cent at the end of 2017.
  • We expect the MPC to keep interest rates unchanged, despite the temporary rise in inflation.
  • The current fiscal rule suggests further fiscal tightening is now needed in the next Parliament.

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