Thinktank revises UK growth outlook upwards on Brexit resilience

Latest forecast from NIESR

Thinktank National Institute of Economic and Social Research (NIESR) has increased the growth forecast for the UK to 1.7% for 2017 in light of the economy's resilience following the Brexit vote.

A few weeks after the result of the EU referendum, NIESR had predicted the UK economy would grow by only 1% in 2017. This was subsequently raised to 1.4% by November 2016.  Its forecast has now been revised upwards once more to 1.7%, as Britain appears to prove resilient to the pressures of the Brexit negotiations - largely thanks to continued consumer spending according to Reuters. This is only 0.3 percentage points lower than last year's recorded growth of 2%, which suggests the thinktank still expects UK growth to slow as result of the impending EU exit, but only slightly. The B...