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Prospects for the UK Economy

Published online by Cambridge University Press:  26 March 2020

Ehsan Khoman  and
Simon Kirby
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Extract

GDP growth in the second quarter of this year remained robust at a quarterly rate of growth of 0.8 per cent. With revisions to previous quarters, economic growth has been maintained at this rate since the end of 2006. NIESR's monthly estimate of GDP showed this robust growth continuing into the third quarter of this year. The official preliminary estimate confirms the pattern of robust growth continuing into the third quarter of this year (figure 1). In light of this we have revised our forecast for GDP growth this year up from 2.8 per cent to 3.1 per cent. We have revised down our forecast for GDP growth in 2008 from 2.6 to 2.2 per cent. This reflects weaker net trade, with the recent financial turmoil having only a small domestic impact.

Type
Articles
Information
National Institute Economic Review , Volume 202 , October 2007 , pp. 42 - 60
Copyright
Copyright © 2007 National Institute of Economic and Social Research

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