- NIESR’s gross domestic product rose to 0.7% in three months to January
Market news
10 February 2015
NIESR’s gross domestic product rose to 0.7% in three months to January
The National Institute of Economic and Social Research (NIESR) released its estimate of gross domestic product (GDP) for the U.K. on Tuesday. The GDP estimate rose to 0.7% in three months to January, up from 0.5% in the fourth quarter of 2014.
The increase was driven by growth in services.
According to NIESR, the economy is expected to grow 2.9% in 2015 and 2.3% in 2016.
The economy will benefit from lower oil prices, NIESR said.
NIESR forecasts that inflation will be about 0.5% in 2015, while unemployment rate will be about 5.25% by the end of the year.
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page