GDP

OBR forecasts 2% growth in 2016

Follows months of uncertain markets

GDP grew 0.5% in Q4 2015

Markets and sterling fall

UK economic growth will slow down in the third quarter of the year, the National Institute of Economic and Social Research said, halving a previous estimate.

UK GDP increased by 0.7% in the second quarter of 2015, according to the Office for National Statistics' initial reading, the tenth consecutive quarter of positive growth.

UK growth in the first quarter of 2015 stood at 0.4%, according to the third and final estimate from the Office for National Statistics.

Japan came out of a recession last year after two consecutive quarters of negative growth.

The Confederation of British Industry (CBI) has upgraded its UK growth forecast in the face of low inflation and falling unemployment figures.

The eurozone economy beat growth expectations in the last quarter of 2014, buoyed by a resurgent Germany.