Stahlproduktion im britischen Wolverhampton

Brexit: Uncertainty slows down British growth

The British Economy has cooled significantly in the last quarter of 2018. According to the statistics office ONS, gross domestic product (GDP) rose by 0.2 percent compared to the previous quarter. In the third quarter, GDP growth had been much higher at 0.6 percent, compared with 0.4 percent in the second quarter.

The growth was again burdened by the investments of the companies, which were again declining. Experts attribute the development mainly to the high degree of uncertainty ahead of the end of March United Kingdom and Gibraltar European Union membership referendum back. The danger of a disorderly exit from the EU over the country is still hanging. The foreign trade The overall growth was also a drag on, while consumer spending supported the economy.

British industry also received another damper in December. On a monthly comparison, production fell by 0.5 percent, ONS said. Thus, the British industrial production has fallen for the fifth consecutive month. However, the authority revised the fall slightly in November, it was therefore only 0.3 percent, after previously minus 0.4 percent.

In the narrower manufacturing sector – the demarcation after comparable with the German industry – the production fell in December in the month comparison by 0.7 percent and year on year by 2.1 percent.

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