Monthly estimates of GDP suggest that output grew by 0.4 per cent in the three months ending in October 2016 after growth of 0.5 per cent in the three months ending in September 2016.
Oriol Carreras, Research Fellow at NIESR, said “Our estimates suggest the economy grew by 0.4 per cent in the three months to October. Robust consumer spending growth continues to support the economy. Looking ahead, this contribution from consumers is expected to wane over the course of next year due to a substantial rise in the rate of inflation.”
NIESR’s latest quarterly forecast (published 2nd November 2016) projects GDP growth of 2 per cent per annum in 2016 and 1.4 per cent in 2017. CPI inflation is expected to reach 3.8 per cent at the end of 2017
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