Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

UK economy likely picked up in fourth quarter, rate hike seen in May - NIESR

Published 10/01/2018, 12:41
Updated 10/01/2018, 12:41
© Reuters. FILE PHOTO: A statue is silhouetted against the Bank of England in the City of London

LONDON (Reuters) - British economic growth likely hit a one-year high in the three months to December, the National Institute for Economic and Social Research (NIESR) said on Wednesday.

The think tank said it forecast quarterly growth of 0.6 percent during the fourth quarter of 2017, compared with 0.4 percent in the previous quarter.

Based on this, NIESR said it predicted annual average economic growth for 2017 at 1.8 percent. Its forecasts followed better-than-expected industrial production data for November published earlier on Wednesday.

"This recovery, combined with above-target CPI inflation, is consistent with a gradual withdrawal of monetary policy stimulus," Amit Kara, NIESR's head of UK macroeconomic forecasting, said.

© Reuters. FILE PHOTO: A statue is silhouetted against the Bank of England in the City of London

The Bank of England was now on track to raise interest rates again in May, Kara said.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.