U.K. Growth Forecasts Raised by European Commission on Spending
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The European Commission raised its growth forecasts for the U.K. and said momentum in the economy will continue amid “robust” spending by consumers and businesses.
Gross domestic product will grow 3.1 percent this year and 2.7 percent in 2015, up from projections of 2.7 percent and 2.5 percent made in May, the European Union’s Brussels-based executive said in a statement today. It sees growth slowing to 2.5 percent in 2016.