The World Bank has upgraded its forecast for UK growth over the next three years, bolstered by a stronger global environment despite a weak start to the year.
Economists at the bank expect the UK economy to grow by 1.7% this year, slightly below last year's expansion of 1.8% and up from a forecast of 1.2% in January. Ahead of the general election on Thursday, growth for 2018 and 2019 was also upgraded to 1.5% a year, up from previous projections of 1.3%. The revisions were driven by expectations of stronger growth in advanced and emerging economies, with a recovery in industrial activity and a rise in global trade expected to lift output around the world. Franziska Ohnsorge, a lead economist at the World Bank, said the near-term upgrade ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
