GDP growth in the UK slows post Brexit, NIESR says

GDP growth in the three months to August slowed compared to the prior quarter, according to the National Institute of Economic and Social Research (NIESR).

The NIESR said GDP grew 0.3% in three months ending in August 2016 compared to 0.4% growth in the previous three months.

Economic growth for this year has been flat since April 2016, according to the think tank.

As a result of this stagnant growth, the probability of a technical recession before the end of 2017 is “significantly elevated”, NIESR said.

Rebecca Piggott, Research Fellow at NIESR, said: “The evidence on the current state of the economy post-referendum is limited, but on balance these data suggest that the UK economy is in the midst of a slowdown. We estimate that in the three months to August the UK economy grew by 0.3%.”