NIESR Says GDP Is Up But Below Pre-Recession Level

The National Institute of Economic and Social Research (NIESR) estimates of monthly GDP suggests that output in the UK economy grew by 0.7% in the three months ending in October after 0.8% growth in the three months to September 2013. The estimates suggest further that the current level of GDP is 5.6% above the trough of the 2008-9 recession but is still 2.3% below the levels before the recession in January 2008.