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GDP in the UK grew by 0.1% in Q1 2018 compared with the previous quarter. The US saw growth of 0.6% during the same quarter, with the Eurozone recording growth of 0.4%.
The European Commission released new forecasts on 3 May. These raised UK GDP growth forecasts for 2018 slightly to 1.5%, from 1.4% in their previous February forecast, althouth this is below its forecasts for the Eurozone (2.3%) and is the equal lowest forecast in the EU along with Italy.
IMF forecasts released on 17 April raised UK GDP growth forecasts for 2018 slightly to 1.6% from 1.5% in their previous January forecast, while for 2019 it was unchanged at 1.5%. 2018 growth forecasts were raised in the US (to 2.9%) and the Eurozone (to 2.4%).
Commons Briefing papers SN02784
Author: Daniel Harari