UK GDP expanded at 0.2% clip over three months to May, NIESR says

The British economy continued to grow modestly over the latest quarter, according to one of the country's top research institute's.

UK gross domestic product expanded at a 0.2% quarter-on-quarter pace over the three months ending in May, the same as over the previous three-month stretch, according to the National Institute of Economic and Social Research.

"The subdued performance in the economy throws the political turmoil of a hung Parliament into sharp relief. People are looking for answers to low levels of economic growth, limited improvements in productivity and falling real wages. That none of the parties wholly addressed our long run problems or how we ought to address exit from the European Union is the reason there was no clear winner," said NIESR director Jagjit Chadha.

According to the NIESR´s most recent forecasts, on 10 May, Britain's economy was set to grow by 1.7% in 2017 followed by a pace of expansion of 1.9% in 2018.