British GDP rises

London, Aug 7 (IANS) The British economy grew by 0.7 percent over the past three months, according to figures released by the National Institute of Economic and Social Research (NIESR).

Compared to the same three-month period in 2014, this implies a year-on-year growth rate of 2.7 percent, which is consistent with NIESR’s quarterly forecast of 2.5 percent growth in GDP in 2015, the figures, released on Thursday, said, Xinhua reports.

NIESR’s economic forecast came on the same day as the central bank released its quarterly inflation report, which predicted a growth of 2.8 percent for 2015.

Jack Meaning, research fellow at NIESR said the “growth will remain reasonably strong”.



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