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Real GDP in the UK grew by 0.4% in Q1 2016 compared with the previous quarter. In the same quarter, the Eurozone saw growth of 0.5%, while the US grew by 0.2%.
On 1 June, the OECD lowered its 2016 GDP growth forecast for the UK from 2.1% (at the time of the last forecast in February) to 1.7%. The 2017 growth forecast was unchanged at 2.0%. The Eurozone 2016 growth forecast was revised higher from 1.4% to 1.6%.
Commons Briefing papers SN02784
Author: Daniel Harari