NIESR: GDP growth remains at 0.6%
NIESR's monthly estimates of GDP suggest that output grew by 0.6% in the three months ending in December 2015 after growth of 0.6% in the three months ending in November 2015.
Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in C:\inetpub\wwwroot\2025.financialreporter.co.uk\htdocs\templates\front-end\partials\article_blockquote.php on line 2
This implies the UK economy expanded by 2.2% in 2015 - a moderation compared to the 2.9% growth in 2014, it remains consistent with the economy growing at close to its long-run potential rate.
Jack Meaning, NIESR Research Fellow, said:
“The slowdown in the economy last year was largely due to a sharp moderation in growth of the construction sector and public spending, exacerbated by weaker net trade. The year looks to have ended with reasonable growth, close to the economy’s long-run potential. There is little spare capacity in the economy, and we expect the output gap to continue to close in 2016.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Lloyds
Lloyds Banking Group launches £5,000 deposit mortgage
Mortgage Rates
Barclays relaunches sub-4% mortgage rate
FCA
FCA bans and fines director £755,000 for advice and insurance failures
Bank Of England
Bank of England holds interest rates at 3.75% in 8-1 vote
Mortgages
Mortgage affordability at tightest level since 2008: UK Finance
Nationwide
Nationwide cuts mortgage rates by up to 0.36%
