Economics

U.K. Economy Wilts as Brexit Jitters Hit Business Investment

Growth in 2018 was the weakest in six years, may slow more
No widespread evidence of stockpiling seen in the figures

UCL Economics Professor Mariana Mazzucato discusses the U.K. economy and what a "no-deal" Brexit would mean.(Source: Bloomberg)

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By Andrew Atkinson

February 11, 2019 at 9:30 AM UTC

Updated on

February 11, 2019 at 10:38 AM UTC

This article is for subscribers only.

Brexit uncertainty dragged U.K. investment to its worst slump since the financial crash a decade ago, leaving the economy with barely any momentum.

Gross domestic product increased a smaller-than-forecast 0.2 percent in the fourth quarter, while December alone saw the economy shrink by 0.4 percent, the most since before the 2016 vote to leave the European Union. The pound fell 0.4 percent to $1.2897 as of 10:36 a.m. in London.