September 10, 2018 / 1:27 PM / 7 months ago

UK economy on track for best quarter since late 2016 - NIESR

Various types of breakfast cereals are seen on display for sale at the American Food Store in London, Britain, August 13, 2018. REUTERS/Hannah McKay

LONDON (Reuters) - Britain’s economy looks on track for its best quarter since late 2016, the National Institute of Economic and Social Research (NIESR) estimated on Monday.

Gross domestic product looks likely to expand at a quarterly rate of 0.6 percent during the current July-September period, NIESR said, which would be its best showing since the fourth quarter of 2016.

Earlier on Monday, official data showed the economy expanded 0.6 percent during the three months to July thanks to strong consumer spending, lifted by the World Cup and unusually warm weather.

Reporting by Andy Bruce; editing by Michael Holden

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