LONDON (Reuters) - Britain’s economy has picked up speed and expanded around 0.5 percent in the three months to October, the National Institute of Economic and Social Research (NIESR) estimated on Friday.
Official data show the economy grew at a quarterly pace of 0.4 percent in the third quarter.
NIESR’s prediction followed stronger-than-expected industrial output data on Friday.
“Although economic growth is likely to be stronger in the second half of this year compared with the first, it is important to note that activity has slowed since last year and this at a time when growth in other OECD countries has strengthened,” Amit Kara, NIESR’s head of UK macroeconomic forecasting, said.
Reporting by Andy Bruce, editing by Alistair Smout