Friday May 29, 2020

British economy still confounding Brexit fears

Q4 figures beat expectations, but growth relying on consumer spending

26th January, 2017
Consumer spending holding up British growth. Pic: Getty

In its first estimate, the Office for National Statistics said the British economy grew by 0.6 per cent in the fourth quarter, the same pace as in the previous two quarters and slightly better than economists had expected.

It was driven entirely by services, helped by strong consumer spending. The ONS said construction and production provided “negligible” contribution to growth during the period, having fallen in the previous quarter.

The ONS also said growth...

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