National Institute of Economic and Social Research lowers forecast for 2018
The UK Telegraph is reporting that the NIESR has lowered their estimate for UK GDP growth for 2018 to 1.5% from 1.9% previously.
- The cut was because of the 0.1% GDP growth and the 1st quarter
- NIESR believes that the Bank of England will move the next rate hike back to August, but warns that it can be extended further out, if growth does not pick up
- The NIESR believes the GDP in the Eurozone has peaked and now predicts a slowdown from 2.5% in 2017 to 2.3% in 2018. They see growth in 2019 at 1.9% and an average of 1.4% from 2020 to 2024.
