Home Business News UK economy stalls ahead of general election

UK economy stalls ahead of general election

by Mark Fitt Political Journalist
11th Dec 19 7:00 am

UK GDP was flat in the three months to October 2019, according to the latest data from the Office for National Statistics.

The services sector was the only positive contributor to GDP growth in the three months to October 2019, growing by 0.2%. Output in both the production and construction sectors contracted, by 0.7% and 0.3%, respectively.

An ONS Spokesperson said, “The UK economy saw no growth in the latest three months. There were increases across the services sector, offset by falls in manufacturing with factories continuing the weak performance seen since April.

Construction also declined across the last three months with a notable drop in house building and infrastructure in October.”

Melanie Baker, senior economist at Royal London Asset Management said, “Uncertainty, whether related to the final Brexit outcome or broader economic policy, threatens to linger no matter who wins the election.

“The message from GDP and recent business survey data is that growth in the economy is weak. Brexit uncertainty has dampened business investment over the past couple of years and broader political uncertainty may have an impact on upcoming data releases.”

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