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UK : Stable Growth Despite Brexit Uncertainties

The British economy continues to show stable growth, with the uncertainties around Brexit failing to

The British economy grew by 0.5 per cent over the three months up to the end of January, according to figures from the National Institute of Economic and Social Research (NIESR).

The NIESR, an independent London-based economic think-tank, said in its latest report that British economic activity picked up in the second half of 2017 after a period of subdued growth in the first half of the year. The recovery was driven by both the manufacturing and the service sectors, supported by a buoyant global economy, while construction output continued to lag, the report said.

«Growth is stable. We have been at that level for a few months now. A good ending to 2017 has helped,» Amit Kara, head of British macroeconomic forecasting at the NIESR, told Xinhua on Friday afternoon. British GDP growth would come very close to 2 percent this year, according to the NIESR, a figure which is in line with long-term trend growth, but economists now believe that the British economy is no longer capable of the level of productivity growth seen in the past.

This has a consequence of lowering the rate of growth which the economy can make without overheating. Kara said that the NIESR’s forecast economic growth of 1.8 percent for 2018 was close to or just above what the post-financial crisis British economy can sustain without hitting trouble. «That is pretty close to the maximum it could grow at. The new maximum is now about 1.75 per ...

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