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Strong momentum continues in British GDP growth

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Staff writer ▼ | June 12, 2014
BritainThe British economy is growing with strong momentum, according to a forecast by a London-based economic think tank.

National Institute of Economic and Social Research (NIESR) revealed that the British economy grew by 0.9 percent in the three months to the end of May, a slight decline from the previous rolling three-month figure of 1.1 percent for the three months to the end of April.

The continued strong growth means that the British economy has now surpassed its previous peak by 0.2 percent, which was in January 2008 before the financial crisis

NIESR forecast in May in its latest quarterly forecast that GDP growth in 2014 would be 2.9 percent, and 2.4 percent in 2015, both figures being higher or at the top end of the long-term trend growth figure of 2-2.5 percent.

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