Economy

UK growth sluggish in quarter to January

Brexit negotiations continue to take toll

Oxford Street, London. UK growth remains sluggish.

Tue Mar 12 2019 - 11:40

UA recovery during the first month of 2019 was not enough to lift the UK economy out of the doldrums, according to data published by the Office for National Statistics on Tuesday morning.

Economic growth remained at the sluggish pace of 0.2 per cent during the three months to the end of January, the same as during the final quarter of 2019 and in line with market expectations.

Britain’s economy has been weakening as the Brexit negotiations have reached the final stage. A global economic slowdown and uncertainty have combined to slow activity both in manufacturing and in the construction industry, which is highly sensitive to investment spending.

The weak pace of growth comes despite a recovery in the month of January itself, when the economy grow by 0.5 per cent. Services, construction and manufacturing all bounced back after an exceptionally poor December.

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ONS head of GDP Rob Kent-Smith said: “Across the latest three months, growth remained weak with falls in manufacture of metal products, cars and construction repair work all dampening economic growth. These were offset by strong performances in wholesale, IT and health services.”

“This sluggish growth came despite the economy bouncing back from a weak December.” – Copyright The Financial Times Limited 2019

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