News

Strong real GDP growth is expected to continue in 2018, although at around 4 percent the pace will be somewhat slower than in previous years, on the back of moderating tourism growth. 

Inflation is projected to remain below 2 percent, and the strong expansion in oil exports is expected to help produce the first surplus inthe external current account since 2014.

Output continues to grow at a moderate pace. Since the referendum on EU membership, business investment has been depressed by uncertainty about the future relationship between the UK and EU and expectations of higher future trade costs.