- NIESR’s gross domestic product rises by 0.5% in three months to September
Market news
7 October 2015
NIESR’s gross domestic product rises by 0.5% in three months to September
The National Institute of Economic and Social Research (NIESR) released its estimate of gross domestic product (GDP) for the U.K. on Wednesday. The GDP estimate rose by 0.5% in three months to September, after a 0.6% growth in three months to August.
"This slight softening in the third quarter is expected to be temporary. It is consistent with our latest forecast for the year as a whole," the NIESR said.
The NIESR expects the U.K. economy to expand 2.5% in 2015 and 2.4% in 2016, according to its August forecasts.
The think tank expects the Bank of England to raise its interest rate in the first half of 2016.
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