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Britain ends difficult year with an unexpected GDP uptick

  30.01.2018    

British GDP increased 0.5 per cent in the fourth quarter, faster than the 0.4 per cent forecast, according to the Office for National Statistics Friday show.
But growth in 2017 as a whole slowed to 1.8 per cent, the weakest pace in five years, as consumers and companies felt the repercussions of the June 2016 vote to the leave the European Union.
One of the fastest growing major economies in 2016, Britain failed to keep up with its G7 peers with forecasts suggesting that growth lagged behind Germany's and America's, reported Bloomberg.
The fourth quarter saw dominant services industry grow by 0.6 per cent - faster than in the third quarter - and manufacturing expand 1.3 per cent as exporters benefited from stronger global growth. Construction shrank for a third consecutive quarter.
GDP rose 1.5 from a year earlier, the weakest pace since early 2013. Annualised growth in the fourth quarter was two per cent, compared with a forecast three per cent in the US.



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