News
Data reveals slow growth in UK economy
Data published by the Office for National Statistics (ONS) has revealed that UK economy growth decelerated in the three months to November 2018, expanding at its slowest pace in six months.
The UK economy grew by 0.3% during this period, which is less than the growth of 0.4% recorded in the three months to October 2018.
The ONS figures also showed that the manufacturing sector contracted by 0.3%. Meanwhile, production as a whole contracted by 0.4%, and growth in the services sector increased by 0.3%.
Worries in regard to the global economy have also had knock-on effects for economies around the world, the ONS said. Figures published by the German and French governments recently showed ‘falling industrial output’.
Commenting on the data, Rob Kent-Smith, Head of National Accounts at the ONS, said: ‘Growth in the UK economy continued to slow in the three months to November after performing more strongly through the middle of the year.
‘Accountancy and house building again grew but a number of other areas were sluggish.’
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