UK economic growth quickened in the three months to April from the March quarter, monthly gross domestic product estimates from the National Institute of Economic and Social Research showed Tuesday.
Output grew by 0.4 percent in the three months ending in April after growth of 0.3 percent in the three months to March.
“We expect the slight softening of GDP growth experienced in the first quarter of this year to be temporary and forecast the UK economy will expand by 2.5 per cent for the year as a whole,” the think tank said.
On May 6, the NIESR forecast 2.5 percent growth for this year and 2.4 percent next year.
Preliminary estimates from the Office for National Statistics had revealed in April that the U.K. economy expanded 0.3 percent in the first quarter, marking the slowest pace since 2012, reflecting contraction in construction and industrial activity.
The material has been provided by InstaForex Company – www.instaforex.com