The UK economy grew by 0.6% in the three months ending May, driven primarily by growth in the production and private services sectors, according to the National Institute of Economic and Social Research (NIESR).
The economic research institute today said its latest monthly estimate of GDP suggested output rose by 0.6%, following growth of 1% in the three months ending April. Excluding the estimate for April, which NIESR revised up from 0.8% to 1%, this latest reading represents the strongest output estimate by this measure since September 2012 when it stood at 0.9%. NIESR's latest quarterly forecast projects growth of 0.9% per annum this year and 1.5% in 2014. Looking ahead, the institute says the private services sector is likely to continue to drive growth for the remainder of 2013. T...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
