Economic outlook for 2015 rosier

The outlook for 2015 is looking slightly better now than it was in December 2014, according to the latest forecasts from City and independent forecasters collated by the Treasury.

The economy, as measured by Gross Domestic Product (GDP), is now expected to grow by 2.6% in 2015, against the median (midpoint) forecast of 2.5% in December.

The outlook for workers is also a little better. The median forecast for average earnings has risen to a 2.5% annual increase from the 2.4% forecast at the end of 2014.

The median forecast for RPI inflation is now down to 2.0% for the final quarter of 2015 — down from the median forecast published in December of 2.7%.

www.gov.uk/government/uploads/system/uploads/attachment_data/file/396864/forecomp_201501.pdf