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Fastest UK economy grows since 2016

Fastest UK economy grows since 2016
18.11.2018
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THE UK economy grew by 0.6% in the three months to September, with warm weather boosting consumer spending, according to the Office for National Statistics (ONS).

The figure for the third quarter is in line with predictions from the Bank of England and other forecasters.  However, buoyant growth in July was offset by a slowdown in August and September.

It is the highest quarterly growth figure since the fourth quarter of 2016, when the economy grew 0.7%. Analysts warned the economy had “little underlying momentum” and growth would decline in the final three months.

After a slow start to the year, construction activity grew by 2.1% in the quarter. Manufacturing also picked up after a slow second quarter, thanks to strong car manufacturing numbers for the quarter.

Household spending grew by 0.5% in the quarter, but business investment shrank by 1.2%, suggesting uncertainty among companies over the effects of Brexit.

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