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UK GDP To Log Steady Growth: NIESR

The UK economy is likely to log steady growth in three months to January, the National Institute of Economic and Social Research said Friday.

According to monthly estimates of GDP, output grew 0.5 percent in three months to January, unchanged from the preliminary estimate of the Office for National Statistics for the fourth quarter of 2017.

"We are forecasting GDP growth of close to 2 percent this year assuming a soft Brexit scenario," Amit Kara, head of UK macroeconomic forecasting at NIESR, said.

At this speed the economy could start to overheat unless the Bank of England withdraws some of the stimulus that it has injected by raising the policy rate, Kara noted.

by RTT Staff Writer

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