Confederation of British Industry GDP forecasts:

1.6 percent this year and 1.4 percent in 2018

  • compared with forecasts made in November for 1.3 percent and 1.1 percent,

Rain Newton-Smith, CBI chief economist

  • "Even accounting for weaker growth at the start of 2017, the momentum from last year gives us more of a lift as we move ahead"
  • "Very little has changed in our view of the nature of the outlook. Growth will be slower in the years ahead as living standards are hit by rising inflation; and after some initial strength, uncertainty will weigh on business investment"

Via Reuters

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Note: CBI's forecasts predate the June 8 national election

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CBIs forecasts have been boosted in response to a strong finish for 2016. GBP is a dribble lower: