Home Business NewsBusiness UK economy grows by 0.6 per cent

UK economy grows by 0.6 per cent

26th Jan 17 10:25 am

Figures are on the increase…

The UK economy managed to grow by 0.6 per cent from October to December, maintaining its rate of growth from the previous quarter.

The Office for National Statistics (ONS) figures show that the economy has continued to grow despite the fears that came after the Brexit vote.

In 2016 as a whole the economy grew by two per cent, this is down from 2.2 per cent in 2015.

The ONS said: “Strong consumer spending supported the expansion of the dominant services sector,”

“Although manufacturing bounced back from a weaker third quarter – both it and construction remained broadly unchanged over the year as a whole.”

The figures were slightly better than what economists were predicting.

The service sector saw a rise of 0.8 per cent, services account for around three-quarters of the total UK economy.

The construction industry saw a rise of 0.1 per cent, agriculture grew by 0.4 per cent.

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