NIESR forecasts UK GDP to contract -0.1% in Q1, a shallower contraction of -0.2% in prior forecast.
Paula Bejarano Carbo, Associate Economist, NIESR, said “The outlook for the first quarter of 2023 continues to improve as higher-frequency data, including the services and construction February PMIs, indicate that activity will continue to pick-up in February, suggesting that any contraction we might see over Q1 is likely to be shallow.”
