Economics
Inflation and Brexit Concerns Hold Back U.K. Economy
- Annual growth in GDP drops to weakest pace since 2013
- Households under pressure as prices rise faster than wages
This article is for subscribers only.
A picture of inflation-squeezed consumers and Brexit-wary companies emerged in the U.K.’s latest overview of its economy.
Annual growth in the third quarter slowed to 1.7 percent, slightly higher than previously estimated but still the weakest pace in 4 1/2 years, the Office for National Statistics said on Friday. The economy expanded an unrevised 0.4 percent from the second quarter, well below the rates seen before the European Union referendum 18 months ago.