Niesr: The economy is picking up after a sluggish end to 2015
Economic growth slowed in the three months to February, but there are some signs it is picking up again.
The National Institute of Economic and Social Research (Niesr) said today it believes the economy grew 0.3 per cent between December and February. It marks a slowdown from their previous estimate for growth between November and January, which was 0.4 per cent.
However, they said the subdued figure was mostly due to a poor performance in December. The economy expanded 0.4 per cent in the first two months of the year, Niesr estimates.
Jack Meaning, a research Fellow at Niesr, said:
It looks as if output growth at the start of 2016 has been subdued. However, it appears that December 2015 may have been a low point for GDP and as this drops out of the calculation of quarterly growth rates, output growth for the first quarter may strengthen slightly.