The National Institute of Economic and Social Research (NIESR) forecasts 0.2% GDP growth for the UK in Q3, driven by resilience in the services and construction sectors. This comes despite today’s data showing no growth in July, marking a weaker-than-expected start to the quarter.
Hailey Low, Associate Economist at NIESR, commented on the latest GDP figures, stating, “While today’s figures came in slightly weaker compared to the upbeat performance we have seen over the first half of the year, the strong start to 2024 will likely extend into the second half of the year.”
However, NIESR has noted signs of a slowdown in the final months of 2024. “High-frequency indicators are signaling a relative slowdown in momentum for the remainder of the year,” Low added. Attention is now focused on the government’s upcoming Autumn Statement, where policies aimed at sustaining long-term growth will be highly anticipated.
 forecasts 0.2% GDP growth for the UK in Q3, driven by resilience in the services and construction sectors. This comes despite today’s data showing no growth in July, marking a weaker-than-expected start to the quarter.){kind=link}