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UK Economy Recovery by 2.8%

The Item Club predicts UK economic growth to 2.8% for 2015. The growth is stimulated by low inflation and stronger Eurozone growth, which helps UK economy to boost. Low oil prices, low inflation and higher employment have positive effect on the overall economy. The forecast of Item Club for 2016 is expecting 3% of GDP expansion, BBC reports.

The consumer confidence and spending are boosting because the inflation has fallen to zero and employment rate has improved a lot. According to the Item Club report, the growth is also the result of ECB’s €1.1 trillion bond buying program. The report expect a boost of UK trade; trade to rise by 5.9% in 2015 and 4.9 in 2016.

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