GDP growth slips to 0.5 per cent, finds NIESR

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The National Institute for Economic & Social Research has found economic growth slowed to 0.5 per cent in the three months ending in October from 1 per cent in the three months to September.

According to research by NIESR, the economy is around 2.8 per cent smaller than before the onset of recession at the start of 2008.

However, it expects the economy to grow by 1.1 per cent during 2013 and by 1.7 per cent in 201. It predicts the UK economy will return returning pre-recession levels by the end of 2014.