FX & CFD trading involves significant risk
The National Institute of Economic and Social Research (NIESR) released its estimate of gross domestic product (GDP) for the U.K. on Tuesday. The GDP estimate rose to 0.7% in three months to January, up from 0.5% in the fourth quarter of 2014.
The increase was driven by growth in services.
According to NIESR, the economy is expected to grow 2.9% in 2015 and 2.3% in 2016.
The economy will benefit from lower oil prices, NIESR said.
NIESR forecasts that inflation will be about 0.5% in 2015, while unemployment rate will be about 5.25% by the end of the year.
|remaining time till the new event being published|