Monday 11 Nov 2013 @ 12:20
Think Tanks
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NIESR: Prospects for the UK Economy
After two years of stagnation, economic growth has returned, underpinned by an increase in consumer spending. Growth will continue, albeit at a slightly slower rate than in the first half of this year. The economy is expected to expand by 1.4 per cent in 2013 and by 2 per cent in 2014.
The NIESR expect GDP to return to its previous peak in early 2015, although per capita GDP will still remain well below the 2008 peak. This central forecast implies only a gradual elimination of the large negative output gap.
