UK Economy To Slow Down In 2017 and 2018, Report Concludes
The UK economy is expected to slow down both this year and next, according to a report by The National Institute of Economic and Social Research (NIESR). Despite 2% growth in 2016, including 0.6% in Q4, NIESR’s forecast predicts the UK economy will slow to just 1.7% in 2017 and 1.9% in 2018. A drop in value of the pound sterling versus international currencies, and the impact of Brexit means consumer price inflation is likely to rise – which spells potentially good news for businesses but bad news for consumers. In global terms, the world economy is expected to grow at a faster rate in the next couple of years, with the annual growth rate forecast to rise from 3% in 2016 to 3.1% in 2017, and then to 3.5% in 2018. Simon Kirby, head of macroeconomic modelling and forecasting at NIESR said: “... »
