The think tank reckons that GDP will stay flat, inflation will fall below the 2% target and unemployment will rise by 9%. It also highlighted that four years after the recession started, the UK economy is still 4% smaller than it was at its peak.
Official figures released last week showed the UK is back in recession, after the economy contracted by 0.2% in the first three months of the year. The NIESR says the outlook remains glum, and that growth this year will be close to zero. Happy Friday.