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UK GDP Expected to Grow by 1.7 per cent in 2016
“Prospects for the UK Economy” taken from the National Institute Economic Review

03 August, 2016


Downloads
UK-economy-aug-16External Authors

Kirby, Simon

Carreras, Oriol

Meaning, Jack

Piggott, Rebecca

Warren, James
Related Themes
Macro-Economic Modelling and ForecastingTags
Journal
National Institute Economic Review, No. 1, Vol. 237
Publisher
Sage, London
External Resources
Key points
- GDP is expected to grow by 1.7 per cent in 2016, slowing to just 1 per cent in 2017. GDP is likely to decline by 0.2 per cent in the third quarter of this year and there is a risk of a further deterioration.
- Inflation is forecast to increase significantly, peaking at just over 3 per cent at the end of 2017. The Bank of England is expected to ‘look through’ this temporary rise and ease monetary policy substantially in the coming months.
- Government announcements have effectively ‘over-ridden’ the Fiscal Charter and borrowing is expected to increase by an additional £47 billion over the period 2016–17 to 2020–21.
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