Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Budget 2014: OBR raises GDP forecast to 2.7%

Budget 2014: OBR raises GDP forecast to 2.7%

The Office for Budget Responsibility has revised up its forecast for 2014 GDP growth to 2.7%, which chancellor George Osborne called the biggest inter-Budget upward revision in 'over 30 years'.

At the 2013 Budget, the OBR had predicted 1.8% growth in 2014, but it revised this up to 2.4% at the Autumn Statement in December and up to 2.7% today.

The OBR also confirmed 2013 GDP growth of 1.8%, three times the 0.6% it predicted at the last Budget. 

It expects 2015 growth to weigh in at 2.3%, rising to 2.6% in 2016/17, before falling back to the long-term average of 2.5% the following year. 

'The economy is continuing to recover and faster than forecast,' Osborne said. 'We set out our plans and together with the British people we held our nerve...but the job is far from done. We still don't invest enough, export enough or save enough.

'This is a long-term economic plan delivering economic security for the country.' 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Sam Vecht: the best opportunities in frontier markets

Sam Vecht: the best opportunities in frontier markets

Blackrock's Vecht evaluates frontier markets and explains where he sees the opportunities

Play Where A-rated Pattullo is finding the best bond opportunities

Where A-rated Pattullo is finding the best bond opportunities

Henderson Global Investors head of retail fixed income explains how he is managing his fund against the surprise current monetary policy divergence.

1 Comment Play Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Our much anticpated new series is here! We hand a black cab driver a tenner and grill the manager of the 125-year Merchants trust until the meter runs out.    

Your Business: Cover Star Club

Profile: meet the man building Towry into an £11bn giant

Profile: meet the man building Towry into an £11bn giant

As a former engineer who worked on Hong Kong International Airport, Rob Devey is not afraid of taking on major projects

Wealth Manager on Twitter