U.K. Economy Faces Risk of Prolonged Stagnation: NIESR
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Britain’s economy will grow more slowly this year than previously forecast and stagnation may persist, according to the National Institute of Economic and Social Research.
The institute sees the economy expanding 0.7 percent this year instead of the 1.1 percent forecast in November, and 1.5 percent in 2014, it said in a report published in London today. It also said Chancellor of the Exchequer George Osborne should relax his fiscal squeeze to help the recovery.