United Kingdom economic growth rate continues its pre-Brexit slowdown

UK economic growth hits six-month low

United Kingdom economic growth improved for a second straight month in November, led by services and construction growth, and exceeded economists' expectations, but the growth momentum slowed over the three-month period, the monthly estimate from the Office for National Statistics showed on Friday.

Commenting on the data, the ONS say the United Kingdom economy continues to slow in the three months to November 2018 after performing more strongly through the middle of the year.

The rolling three-month growth rate for September to November was calculated by comparing GDP during this period to the previous three-month period from June to August.

"Accountancy and house building again grew but a number of other areas were sluggish".

The three-month-on-three-month growth in gross domestic product of 0.3% was the weakest recorded since the March to May period previous year. Industry suffered its most widespread fall in output since 2012, with a drop in vehicle production leading the charge.

This is in line with Germany and France, which have also recorded falling industrial output. Economists had expected the pace of growth to remain unchanged.

Mike Jakeman, senior economist at PwC, said: "The latest monthly GDP data adds to existing impressions that the economy is slowing as uncertainty over Brexit intensifies".

Willian insists he will be staying at Chelsea
It was a warning that Sarri's men failed to heed and in the 40th minute Newcastle were level. The 30-year-old scored the victor against Newcastle following Pedro's first half goal.

Government shutdown breaks record, with no end in sight
The Post cited a March 2016 memo from the Trump campaign declaring that Mexico would make "a one-time payment of $5-10 billion". The US government shutdown is now officially the longest on record after 22 days elapsed without a funding agreement.

Winter Storm Gia forecast: Monster snowstorm to span half the US
Areas further to the south will get the most snow, with parts of South Jersey and northern DE seeing as much as 3-5 inches. As the winter storm continues to impact the region, now most of the Commonwealth gets in on the warmer side of things.

Having initially postponed MPs' vote on her Brexit deal in December, Prime Minister Theresa May will attempt to pass it through parliament on Tuesday 11 February.

"The clear loss of momentum in the United Kingdom economy since the summer is as expected, given the ongoing lack of clarity on Brexit".

Earlier this week closely watched purchasing managers' surveys pointed to fourth-quarter growth of around 0.1 percent in Britain, according to data firm IHS Markit which compiles the surveys.

Despite the better-than-forecast GDP numbers the British Pound has moved lower, confirming suspicions that United Kingdom economic statistics are a mere sideshow for the currency in the current environment where Brexit is front and centre.

There were several factors at play in the sharp slowdown, but that Brexit-related uncertainty was not primary, as there is a global slowdown of both services and manufacturing - the United Kingdom is part of that, Amit Kara, head of United Kingdom macroeconomic forecasting at the NIESR, told Xinhua.

Separate data showed that, once erratic items like aircraft orders were stripped out, the gulf between imports and exports - the trade deficit - widened to £9.5bn in the three months to November.



Latest news

Emery admits Arsenal's away form is 'a concern' after West Ham defeat
The 33-year-old has only returned recently himself from an Achilles injury that had ruled him out for seven months. It was not the first time that the playmaker has been left out of a big game for the Gunners this season.

Republicans slam Rep. King for what they call racist remarks
King said . "Why did I sit in classes teaching me about the merits of our history and our civilization?" Hawaii Democratic Sen. On Wednesday, Republican State Senator Randy Feenstra of Wall Lake announced he will challenge King in a primary in 2020.

Bafana Bafana legend Phil Masinga has died
South African Football Association (Safa ) president Danny Jordaan joined the football world in remembering and mourning Masinga. The forward arrived at Elland Road in 1994, in a deal which also saw club legend Lucas Radebe move to Yorkshire.

Merkel: Germany recognises 'historical responsibility' for Nazi crimes in Greece
The leaders are likely to discuss the still thorny issue of an impending name change for Greece's neighbour Macedonia. It has denied owing anything to Greece for World War Two since it paid Athens 115 million Deutschmarks in 1960.

BCCI announces replacements for Hardik Pandya, KL Rahul; Young star rewarded
Team India played Australia in the first ODI of the three-match series at the Sydney Cricket Ground on Saturday (January 12). Young Punjab batsman Shubman Gill has been roped in for the T20I and ODI series in New Zealand and has replaced KL Rahul.

Kate Middleton Celebrates 37th Birthday as Proud Mom of 3
She will no doubt be spending most of the day with Prince Louis , who was born in last April. Some people are starting to suspect that Kate Middleton is pregnant with her fourth child.

Norrie through to first ATP Tour final in Auckland, faces Sandgren
The 27-year-old Sandgren, ranked 63rd, was playing in his second tour final after being beaten by compatriot Steve Johnson at the U.S.

Australian boy dies in avalanche
Sydney student Max Meyer was on a holiday to Austria with his family when he was tragically caught in an avalanche. A rescue team arrived and was able to free him after 20 to 30 minutes, but he was deceased.

Apple to release three new iPhones amid struggling sales
Apple plans to continue with LCD model as the device has been in the production pipeline for months, the report said . Come 2020, Apple could drop the LCD model and shift its entire iPhone line to OLED displays, some of the people said.

New AI is better at detecting cervical pre-cancer than doctors
To create the algorithm , the team of researchers has used more than 60,000 cervical images or can include more than 9,400 women. A screening known as a Pap test can find changes in the cervix before cancer develops.

Newcomer Svensson snatches Sony Open lead
Putnam didn't miss many in the opening round. "The hole was very large and the ball was going in", he said. Jordan Spieth in his 2019 debut had to be stopped from taking an incorrect drop under the new rules.

The Lexus LC Convertible Concept in Photos
An open-air roadster that is an artful reflection of the LC coupe , the design goal of the Convertible Concept was the expression of "ultimate beauty".

Lexar breaks out 1 TB SDXC memory card
This whopper of an SD card comes to us "almost 15 years" after Lexar announced a 1GB option, showing how far the company has come. So, the Lexar's latest SD card is the first commercially available 1TB SD card you can actually buy.

Bungie announces a Destiny bombshell
Bungie has been a major force in the video game industry ever since they launched the iconic Halo franchise in 2001. As Bungie takes over complete control of Destiny , Activision will increase it's focus on its other IPs.

Celtics 4-Game Winning Streak Snapped by Heat
Winslow wore "RIP Sammy Farkas" on his sneakers, a tribute to a Miami Beach teen who died in a fall earlier this week. Brown was benched the rest of the half and did not re-enter until just before the end of the third quarter.

Other news