UK prospects for growth far weaker than first predicted, says OBR

Forecaster now expects economy to grow by just 1.5% in 2017, rather than 2% originally suggested in March Britain’s growth prospects are far weaker than previously thought, according to the Office for Budget Responsibility, as stalling productivity and cash-strapped consumers provide a bleak backdrop for the economy.The government’s independent economic forecaster sharply downgraded its growth predictions and now expects the economy to grow by just 1.5% this year, after predicting 2%