British economy soars less than anticipated for the last three months of 2017

British economy soars less than anticipated for the last three months of 2017

The UK economy ascended more slowly than previously anticipated for the three months of 2017, as official figures disclosed, raising questions as for the British economy's strength as the BoE is ready to have interest rates lifted.

Thursday's figures state that the UK economy lost steam in late 2017 notwithstanding the strength of the world’s economy.

Many British households are feeling the pinch from a huge leap in inflation after in 2016 they supported the idea of breaking up with the European Union.

Between October and December gross domestic product inched up by 0.4%, as the Office for National Statistics informed, which is below experts’ estimates of 0.5%.

Downwardly updated surge of 1.4% appeared to be the weakest outcome for more than five years in year on year terms.

A number of small updates to energy generation, mining as well as service turned to be enough to cause a moderate downward update to quarterly surge in general, as ONS statistician Darren Morgan informed

The UK economy managed to inch up by 1.7% the previous year. What’s more, in general it stepped down 0.1%, which is more than previously anticipated, demonstrating the weakest outcome since 2012.

Thursday's data disclosed that household spending rallied at an annual rate of 1.4% in the fourth quarter of the previous year, tacking on a bit from 1.3% in the third quarter.

As for business investment, it was intact on the quarter and inched up by 2.1% on the year.

Aside from that net exports ate up 0.5% from fourth-quarter surge.

Earlier this month the Bank of England informed that in February it actually expected the British economy to edge up by 1.8% in 2018, which is faster than its previous estimate of 1.6%, mainly due to the strength of the world’s economy.

 

 

Similar

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera