UK GDP expected to grow at 1.7% this year

“Prospects for the UK Economy” taken from the National Institute Economic Review

Pub. Date
10 May, 2017

Key points

  • 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 until mid-2019, despite the temporary rise in inflation.
  • The current fiscal rule suggests further fiscal tightening is now needed in the next Parliament.