The slowdown in GDP growth to a very modest 0.7% annualised in the final quarter of last year is a temporary blip. With employment increasing by a monthly average of 284,000 during that quarter and final sales to domestic purchasers rising at a more acceptable 1.6% rate, we do not believe this is the start of a more serious downturn. GDP growth was 2.4% for 2015 as a whole and we anticipate a 2.5% gain in 2016.
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