The April growth estimate for the United Kingdom prepared by the NIESR (National Institute of Economic and Social Research) showed + 1.3% in April. This compares with an expectation of a 1.8% contraction. The figures had no impact on the market.
The NIESR estimates that during the second quarter the economy will expand by 4.7%. They see 2% growth in April. Commerce and the hospitality sector would be the main drivers considering the government’s agenda regarding restrictions.
In the first quarter, the economy contracted 1.5%, in line with NIESR estimates.
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