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NIESR: UK growth to be largely flat in Apr, close to flatlining in Q2

NIESR expects UK economic growth to be “largely flat” in April, and “close to flatlining” in Q2 overall. it

Rory Macqueen Principal Economist, NIESR, said:

“March’s deterioration in consumer confidence translated into a sharp fall in retail and wholesale, which was exacerbated by continuing supply-chain problems in the motor industry. Offsetting this, the continuing normalisation of GP and hospital activities cancelled out falling Covid-related activity to mean that the health sector returned to month-on-month growth. Falling business investment in the first estimate for the first quarter is a concern: with the government’s tax ‘super-deduction’ expiring in under a year we still see little sign of a recovery from the Covid shock.”

Full release here.

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