NIESR says UK GDP growth picked up slightly in April

Economic growth in the UK picked up slightly in April, according to a prestigious think-tank which forecast a further re-acceleration through the rest of the year.

Britain’s gross domestic product (GDP) expanded at a 0.4% year-on-year pace in the three months to April, the National Institute of Economic and Social Research (NIESR).

At the end of April the Office for National Statistics estimated GDP grew 0.3% in the first quarter of 2015.

“We expect the slight softening of GDP growth experienced in the first quarter of this year to be temporary and forecast the UK economy will expand by 2.5% for the year as a whole,” the NIESR said.

On 6 May the research centre estimated Britain’s GDP would grow by 2.4% in 2015.