Mortgage News
Economists: UK growth could hit 4% this year
Britain’s growth rate could reach as high as 4% this year as the recovery accelerates, economists have said.
Economists are rapidly revising up their forecasts for 2014, despite disappointing manufacturing and construction data last week, the Sunday Times reports.
A growing number think Britain will grow by 3% or more for the year, with the rate possibly peaking at about 4% in the middle of the year before easing back.
This would be the fastest rate since the third quarter of 2007.
Michael Saunders at the investment bank Citi said: “Economists are conditioned for disappointment, but if anything, the risks lie to the high side and there is an outside chance that GDP growth could hit 4% year-on-year in one quarter, stemming from a possible sharp pick-up in business investment.”
Saunders’ forecast for 2014 as a whole is 3.2%
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