UK Data Snap: NIESR Projects GDP Grew 0.5% In Q4

–NIESR: Estimate Q4 GDP At 0.5%; Down From 0.7% in Q3

LONDON (MNI) – The pace of UK economic growth decelerated in the
the fourth quarter, falling to 0.5% from the 0.7% seen in the third
quarter, according to the National Institute of Economic and Social
Research.

NIESR’s projections showed GDP growth falling to 0.5% in the three
months ending December, down from 0.6% in the three months through
November. The data show clearly how the pace of UK growth has decelerated,
having peaked at 1.1% in Q2.

If GDP does come in at 0.5% on the quarter, with some analysts
expecting it to come in at 0.4% or lower, it would be running a little
below the estimate of the trend rate of growth used by the Office for
Budget Responsibility.

“These data suggest the MPC should begin this year by choosing to
maintain their current monetary policy stance,” NIESR said.

–London newsroom 4420 7862 7491; email: drobinson@marketnews.com

[TOPICS: MABDS$,M$B$$$]