UK economic system grew zero.5 p.c in three months to January – NIESR

LONDON (Reuters) – Britain’s economic system most likely grew by zero.5 p.c within the three months to the top of January, unchanged from its tempo of progress on the finish of 2017, the National Institute of Economic and Social Research (NIESR) mentioned on Friday.

Earlier this week, NIESR forecast that Britain’s economic system would develop by 1.9 p.c this 12 months and subsequent – barely quicker than the Bank of England predicted on Thursday.

“At this speed, the economy could start to overheat unless the Bank of England withdraws some of the stimulus that it has injected by raising the policy rate,” NIESR economist Amit Kara mentioned.

A failure of Brexit talks would trigger “a marked slowdown with damaging longer term consequences”, Kara added.

Reporting by David Milliken; modifying by Stephen Addison

Our Standards:The Thomson Reuters Trust Principles.

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