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UK economic growth 'to reach 2.5% this year'

Business News 07 Feb 2014

The National Institute of Economic and Social Research (NIESR) has announced that it expects the UK economy to grow by 2.5% in 2014, and then by 2.1% in 2015.

The research institute said the UK's economic recovery was now 'entrenched'. The announcement follows similarly promising growth forecasts from organisations such as the International Monetary Fund (IMF) and the Organisation for Economic Co-operation and Development (OECD).

The recent rise in house prices and falling unemployment levels have fuelled the economic recovery by encouraging consumer spending.

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