Economics
U.K. Economy Remains a Laggard Even as GDP Beats Forecasts
- GDP rose 0.5% in 4Q, but 2017 was the weakest in five years
- BOE Governor Carney says Brexit holding back the economy
Hammond Says U.K. Seeks Closest Possible Access to EU
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The U.K. economy ended 2017 on a stronger-than-expected note, but it’s moving at a pedestrian pace given the global acceleration that’s taking place.
The 0.5 percent expansion in the fourth quarter announced on Friday was better than the 0.4 percent forecast by economists in a Bloomberg survey. For the full year, growth slowed to 1.8 percent, the weakest in five years, as consumers and companies felt the repercussions of the 2016 vote to the leave the European Union.