NIESR: GDP slows to 0.5% in August
The National Institute for Economic and Social Research's preliminary estimate shows that GDP growth slowed to 0.5% in the three months ending in August 2015.
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That is a slowdown from the 0.6% recorded for the three months ending in July, and 0.7% seen in Q2.
In a statement, NIESR said:
"Despite the slight softening, growth remains close to the estimated long run potential of the economy, but below the average rate of growth (0.7 per cent per quarter) observed since the start of 2013."
NIESR’s latest quarterly forecast projects GDP growth of 2.5% per annum in 2015 and 2.4% in 2016.
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