NIESR slashes UK growth forecast amid Covid-19 second wave

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Thinktank also expects unemployment to reach 2.5m by end of the year

One of the UK’s leading thinktanks has slashed its forecasts for growth this year after the delay to recovery caused by the second wave of the Covid-19 pandemic.

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In its quarterly update, the National Institute of Economic and Social Research said it now expected the economy to grow by 3.4% in 2021 compared with the 5.9% it had been expecting in November.

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