The National Institute of Economic and Social Research (NIESR) has warned that the UK still faces a serious risk of recession by the end of 2017, despite recent surveys showing signs of growth.

According to their latest report, the monthly GDP estimate indicates a 0.3% growth in output in the 3-month run up to August, a significant drop from the 0.6% recorded for Q2 of this year, indicating that the UK economy is indeed slowing down.

The UK economy has struggled to grow significantly in 2016 and the latest signs of stagnation are an indication that the probability of another recession in 2017 is rising. UK manufacturing output declined by 0.9% from June to July, and a 0.8% decrease from July 2015.