UK Think Tank Report Says Economy Will Weaken Next Year

While the U.K.’s economic recovery may be the envy of it European neighbors, it is still the country’s “weakest in the past century” and is set to slow next year, a leading British think tank warned on Wednesday.

The National Institute of Economic and Social Research (NIESR) forecast growth would slow to 2.5 percent in 2015, down from 3.0 percent his year, in its quarterly journal.

“U.K. economic statistics have recently undergone significant revisions, but they do not change the broader picture: the turnaround of the U.K. economy remains the weakest in the past century,” NIESR economists wrote in the journal.

Government figures suggest the U.K. grew by 3.0 percent year-on-year in the first nine months of 2014.

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