Think-tank: UK economy grows for 2nd month

CNC
Added On November 12, 2017

A London-based think-tank estimated the British economy grew by 0.5 percent in the three months to the end of October, the second consecutive month in which the rolling three-month rate accelerated.
 
The National Institute for Economic and Social Research notched up its GDP growth rate by 0.1 percentage point from the 0.4 percent estimate for growth in September.
 
In a forecast, the think-tank said that economic growth is likely to be stronger in the second half of this year compared with the first.
 
However, British economic activity had slowed since last year at a time when growth in other developed economies, such as the eurozone and the United States, had strengthened. 
 
In the meantime, figures from the Office of National Statistics said that British trade deficit has narrowed more strongly than expected thanks to an export boost due to weak sterling.
 
But economists say the overall figures are still "disappointing".