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GDP growth in UK slows post Brexit, says NIESR

Staff Writer |
GDP growth in the three months to August slowed compared to the prior quarter, according to the National Institute of Economic and Social Research (NIESR).

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The NIESR said GDP grew 0.3% in three months ending in August 2016 compared to 0.4% growth in the previous three months.

Economic growth for this year has been flat since April 2016, according to the think tank.

As a result of this stagnant growth, the probability of a technical recession before the end of 2017 is "significantly elevated", NIESR said.

Rebecca Piggott, Research Fellow at NIESR, said: "The evidence on the current state of the economy post-referendum is limited, but on balance these data suggest that the UK economy is in the midst of a slowdown. We estimate that in the three months to August the UK economy grew by 0.3%."

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