The Financial Times:
Annual FT economists' survey: UK growth forecast to continue
1 January 2015
Q: Will Britain's economy sustain a decent pace of economic growth in 2015? Please explain your answer.
John Van Reenen, Centre for Economic Performance at the London School of Economics and Political Science
In the absence of an unexpected major shock (eg from eurozone or China) it should be able to grow at least 2.5 per cent to 3 per cent. There is more spare capacity in economy than generally thought as signalled by that output is not much higher than pre-crisis levels and we are still have very muted wage growth. I do not believe that the supply side of UK or global economy has been seriously impaired preventing it from growing at pre-crisis levels.
Sir Christopher Pissarides, Regius Professor of Economics, LSE and Associate of the Macro Programme at the Centre for Economic Performance
Yes. The UK economy has adjusted to the debt reduction programme and I expect both consumer spending and investment to rise in 2015. The problems of the eurozone will hold back growth a little and if the Chancellor pushes with his plans to reduce spending growth would be negatively affected but I do not expect the spending reduction to happen in 2015.
Link to article here
Related links
Christopher Pissarides webpage
Macro Programme webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage