The UK Economy: Forecast Summary

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National Institute Economic Review, 2017, vol. 241, issue 1, F2-F2

Abstract: GDP is forecast to grow by 1.7 per cent this year and by 1.9 per cent next year. Annual consumer price index inflation peaks at 3.0 per cent in the last quarter of this year before easing back to the target rate of 2 per cent in the final quarter of 2019. We have brought forward the timing of the rate hike from the second quarter of 2019 to the first quarter of next year. In our forecast, the fiscal deficit is eliminated in 2022 and the debt-to-GDP ratio peaks in 2018/19.

Date: 2017
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