Economy News Headlines - Yahoo! News: NIESR raises UK growth forecasts as consumers spend more

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NIESR raises UK growth forecasts as consumers spend more Aug 1st 2013, 23:04 LONDON (Reuters) - More spending by Britain's consumers suggests the economy will grow faster than previously thought this year and in 2014, a leading macroeconomic think tank said on Friday. The National Institute of Economic and Social Research (NIESR) revised up its economic growth forecasts for both 2013 and 2014 by 0.3 percentage points to 1.2 percent this year and 1.8 percent next year. After posting meagre growth of just 0.2 percent in 2012, Britain's economy expanded by 0.3 percent in the first three months of this year from the previous three months, and by 0. ... Media files: 2013-08-01T230402Z_1_CBRE9701S2Y00_RTROPTP_2_BRITAIN.JPG (image/jpeg)

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