UK Growth Forecast Raised

The growth forecast for the UK this year has been increased by the Organisation for Economic Co-operation and Development (OECD) to 1.5% from its original estimate of 0.8%. It is said that growth within the UK had gained momentum throughout the first half of this year and this forecast has been publicised following surveys from sectors including construction and manufacturing have shown positive signs in growth, some showing impressive rises for the first time in many years. The UK is thought to be expanding at “encouraging rates” and a reading used to indicate expansion and contraction within the economy is currently at its highest since 2007, indicating that there is more positive news to come in the near future.

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