NIESR: UK economy grew 0.6% in last three months

The UK economy grew by 0.6% in the three months to the end of May, driven primarily by growth in the production and private services sectors, according to the National Institute of Economic and Social Research (NIESR).

The institute's 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 estimate 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. The period of depression is expected to continue for so...