The UK Economy - forecast summary

| Publication date: 2 Aug 2017 | Theme: Macroeconomics | NIESR Author(s): Amit Kara; HantzscheA; LennardJ; CLenoel; Rebecca Piggott; James Warren; CThamotheram | Journal: National Institute Economic Review Issue 241 | Publisher: Sage Publications, London
  • GDP is forecast to grow by 1.7 per cent this year and by 1.9 per cent next year.
  • Annual consumer price index inflation peaks at 3.0 per cent in the last quarter of this year before easing back to the target rate of 2 per cent in the final quarter of 2019.
  • We have brought forward the timing of the rate hike from the second quarter of 2019 to the first quarter of next year.
  • In our forecast, the fiscal deficit is eliminated in 2022 and the debt-to-GDP ratio peaks in 2018/19.

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