http://www.ey.com/UK/en/Issues/Business-environment/Financial-markets-and-economy/ITEM—Forecast-headlines-and-projections
UK GDP is projected to grow by 1.1% this year after a 0.2% rise in 2012, with the current modest pick-up in the economy being driven by the consumer in general, and the housing market in particular. With consumer confidence returning and the Government’s initiatives to stimulate the housing market bearing fruit, consumers are switching their attention back from saving to spending.
So far, so unbalanced. However, the better news is that from 2014 the consumer-led recovery will morph into much more balanced growth, as business investment and exports begin to rise more strongly. As a result, UK GDP growth will accelerate to 2.6% in 2015, and stay at around that level through to 2017.
