NEISR drops UK growth forecast - Telegraph

As noted by the UK's Telegraph, the National Institute of Economic and Social Research has dropped their forecast for 2018's GDP growth within the UK.

Key highlights

The NEISR cut the UK's forecast GDP growth to 1.5% for 2018 based on the sluggish growth for the first quarter, while they also believe that the Bank of England will be pushing their first rate hike back to sometime in August, if not further out if growth continues to lag. The NEISR also believes that the European Union's GDP has peaked, and will drift lower in the coming years, with 2.3% in 2018, 1.9% in 2019 and 1.4% from 2020 onwards.