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LONDON (Reuters) – The UK economy is expected to grow slowly in the middle of this year before recovering by the end of 2019, said Bank of England Deputy Governor Dave Ramsden in a published interview. Saturday.
"Given the labor market situation, real incomes are starting to rise, growth could be low in the middle of this year, and then start to recover," Ramsden told Scotland's Journal and Journal at A trip to Inverness.
In a speech to local businesses Thursday, Ramsden said he expects growth to be somewhat weaker than the BoE expected in early May due to slower investment and weak productivity. economic.
"Companies may be more cautious about starting to invest at the pace we expect, as we expect investment to increase by about 5% next year. It's been a year now, "he told the newspaper.
The BoE expected early May that the economy would grow 1.5% this year and 1.6% in 2020 if the Brexit was running smoothly.
Quarterly growth was strong at 0.5% in the first three months of 2019, but the BoE expects this decline to fall to 0.2% in the current quarter as a result of the temporary decrease in stocks prior to Brexit.
(Report by David Milliken, edited by Sandra Maler)
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