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UK growth slowed in three months to August - NIESR

Published 09/09/2015, 15:59
© Reuters. Workmen are seen on a crane near an office building in the financial district of London

LONDON, Sept 9 (Reuters) - - Britain's economy probably slowed in the three months to the end of August, the National Institute of Economic and Social Research said on Wednesday.

Growth in the period was estimated at 0.5 percent compared with 0.6 percent in the three months to the end of July, the think tank said.

Official data published earlier on Wednesday showed industrial output contracted in July, pushed down by the earlier-than-usual summer shutdown of auto plants and weak demand for British exports.

"Despite the slight softening, growth remains close to the estimated long-run potential of the economy, but below the average rate of growth -- 0.7 percent per quarter -- observed since the start of 2013," NIESR said.

© Reuters. Workmen are seen on a crane near an office building in the financial district of London

It has previously forecast that the UK economy will expand by 2.5 percent in 2015 as a whole, compared with 3.0 percent in 2014.

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