UK growth prediction for 2018 scaled back to 1.4% by thinktank
by Larry Elliott and Phillip Inman from on (#3PBXH)
NIESR cuts forecast from 1.9% after evidence growth almost came to halt in first three months
One of the UK's leading economic thinktanks has slashed its forecasts for 2018 following evidence that growth almost came to a halt in the first three months of the year.
The National Institute for Economic and Social Research said it expected expansion of 1.4% in 2018 - down from the 1.9% it had been predicting three months ago - and anticipated that interest rates would not rise until August at the earliest.
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