Research Center is expected to record the British economy grew 3% in 2014,

Research Center is expected to record the British economy grew 3% in 2014

 

 

  Signed a prominent research institute that the economic recovery in Britain is becoming more established, which raise the ceiling on its forecast for economic growth for 2014.

The National Institute of Economic and Social Research said on Tuesday that he expected the British economy recorded a growth of 3.0 percent this year, up from the previous appreciation of 2.9 percent.

But the institute said that while the growth of the economy in the second quarter of the year surpassed the peak level recorded before the financial crisis in 2008, but it may take until 2017 in order to recover the per capita economic output.

The new Institute say that the puzzle poor levels of productivity in Britain is among the worst in the group of rich countries Sba- is because of uncertainty.

He said that the continued recovery in the housing market and the growth of mortgage lending are the main concern in the short term.

He added that it is unclear what is the impact that would have on the intervention of the authorities recently in the housing market.

In addition to the introduction of more stringent audits on the ability of borrowers to meet their mortgage payments announced the Bank of England last month, measures to prevent the accumulation of high-risk mortgages.

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