Skip to content
Subscriber Only

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

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.