Britain's economy will continue to grow at a "robust pace" over the coming two years, according to the Organisation for Economic Co-operation and Development (OECD).
In its latest Economic Outlook, the Paris-based OECD said that with a forecast annual growth rate of 2.4 per cent for this year and next - easing back slightly to 2.3 per cent in 2017 - UK performance would continue to outstrip the euroezone.
Employment is projected to carry on growing - although at a slower pace - while inflation will pick up from 2016 as the temporary effects of cheap energy prices and a strong pound unwind.
The OECD sounded a warning note about the continuing strength of the housing market, cautioning it could lead to a shortage of rental properties and "boost household indebtedness, creating financial stability risks".
It also expressed concern about the effect of the introduction of the national living wage on employment levels.
"The magnitude of their impacts is uncertain, but a higher minimum wage could hurt employment by pricing out low productivity workers from the labour market and result in losses of competitiveness if not matched by stronger productivity," it said.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here