LONDON (Reuters) - Britain’s economy grew in the three months through August, continuing to move out of recession though a proper recovery remains elusive, the National Institute of Economic Research (NIESR) said on Friday.
Gross domestic product probably grew by 0.2 percent in the three months ending August, a slowdown from the 0.3 percent growth in the three months through July, the institute said.
“While we expect the economy to continue to expand, it will take more robust rates of growth than we have recently seen to close the UK’s large negative output gap,” NIESR said.
“Significant downside risks to the outlook persist, not least the future evolution of the euro area crisis,” the NIESR economists said.
Britain has not fully recovered from the 2008-2009 slump and the economy slipped back into recession at the end of last year, contracting three quarters in a row.
Reporting Sven Egenter; email@example.com