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UK economy on track to grow at fastest since fourth quarter 2016 - #NIESR

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Britain’s economy looks on track to grow at its fastest rate since the tail end of 2016, according to an estimate from the National Institute of Economic and Social Research (NIESR) on Friday (10 August), writes David Milliken.

NIESR forecast growth would pick up to a quarterly rate of 0.5%  during the current quarter, its highest since the final quarter of 2016, after official figures showed growth accelerated to 0.4%  in the three months to June.

“Growth is now close to our estimate of potential,” NIESR economist Amit Kara said.

“Looking ahead, there is some evidence to suggest that services sector output has stabilized while the relatively small construction sector continues to gather momentum,” he added.

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