Central London Market Review Q2 2015
“The UK economy regains momentum after growth strengthens in Q2 with the services sector showing renewed signs of strong growth.”
UK economy continues to strengthen
The UK economy grew by 0.7% in Q2 2015.
The economic recovery is clearly well established with Q2 marking the eighth time quarterly GDP growth has been above 0.5% since 2012.
The Bank of England now expects 2.8% GDP growth this year, up from the previous forecasts of 2.5%.
The UK economy is clearly benefiting from low oil prices – oil is trading at $50 a barrel compared with a peak of $115 in 2014 – and high levels of consumer confidence.
Employment growth has been remarkably strong since 2010, pushing the employment rate to record levels in March 2015 and job creation is expected to continue throughout 2015 and into next year.
Source (CBRE Research)