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UK GDP up to 0.4% in April

UK GDP grew by 0.4 per cent in the three months to April compared to 0.3 per cent growth in the three months ending in March 2015, according to the National Institute of Economic and Social Research.

The think-tank says it expects “the slight softening” of GDP growth experienced in the first quarter of this year to be “temporary”.

Estimates of GDP from NIESR suggest the UK economy will grow 2.5 per cent in 2015, down from the 2.8 per cent projected three months ago.

NIESR also expects the growth rate to come down to 2.4 per cent in 2016.

Earlier in May, the think-tank said in a statement: “We expect growth to rebound through the remainder of this year. This will be driven largely by consumer spending, supported by the positive terms of trade effect from the sharp fall in oil prices.”

It also said the level of prices will fall slightly for the most part of 2015, while unemployment is likely to drop about 5.25 per cent by the end of 2015.

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