UK Output Almost At Pre-Crisis Levels

The U.K.’s economic output will top its pre-crisis peak in the next few months, according to a new forecast, marking an end to the so-called Great Recession that has plagued the county for six years.

The country’s economy has expanded quicker than expected, and is now running at growth of around 3 percent year-on-year, the National Institute of Economic and Social Research (NIESR) said on Friday.

In its quarterly economic forecast, the think tank upgraded its gross domestic product (GDP) forecasts for Britain to 2.9 percent for 2014, from earlier estimates of 2.5 percent, and to 2.4 percent in 2015, from 2.1 percent. The NIESR expects growth to remain around 2.4 percent per annum until 2017.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza