UK economy grew at slowest rate in a year as GDP rise stalls – Niesr
UK GDP grew by 0.6 per cent in the three months to July, down from 0.9 per cent for the previous three months and the slowest rate in a year, according to think tank National Institute of Economic and Social Research (Niesr) estimates.
The figure equals that of the ONS: 0.8 per cent for the same period.
It comes after the UK economy recently returned to its pre-crisis peak, albeit with lower real wages and GDP per capita.
On Tuesday, the think tank reported that it saw the UK economy growing by three per cent in 2014 and 2.3 per cent in 2015. The recovery, it said, had become "entrenched".
Despite the recent positive news regarding GDP, the latest dip took a lot longer to recover from than those in the past. According to the ONS, the recovery took 25 quarters:
The graph below shows the latest ONS numbers for GDP growth (quarter on quarter).