Economics
U.K. Brexit Boom Still Sees Economy Plagued by Old Problems
- Services were sole contributor to growth in fourth quarter
- Reliance on one sector leaves economy exposed to Brexit shocks
U.K. Economy Defies Brexit in 0.6% 4Q GDP Gain
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The U.K. economy is maintaining its stellar performance since the Brexit vote, but the reasons may be cause for concern.
Growth beat expectations again in the fourth quarter, coming in at 0.6 percent, but the make-up of the performance hints at ongoing weak links. The expansion is still being almost entirely driven by services and consumer spending, continuing a trend of lopsided growth in seen in recent years.