NIESR Says The UK Economy May Grow 1.1% In 2013

The National  Institute for Economic and Social Research (NIESR) has projected a possible 1.1% return to growth for the UK Economy in 2013. The news was quickly reported in Reuters, and while the numbers may seem anemic it does suggest a slow return to growth. The UK economy largely flat-lined over 2012, but looks like it will end the year with a small 0.1 contraction in GDP (an improvement from the 0.5% dip predicted in August).

The NIESR said about the economy, “Risks to the UK economy are dominated by the external environment,” and added that “Developments in the euro area are most important, both because of trade and financial sector linkages.”