​British economic growth hits record low in 2018: ONS

2019-02-12 09:58

Already collect

Britain's gross domestic product (GDP) in 2018 increased by 1.4 percent, hitting its weakest level since 2009, according to figures published Monday by the Office for National Statistics (ONS).

Data showed that economic growth between October and December 2018 rose by an estimated 1.3 percent year-on-year.

On a quarterly basis, British GDP in the fourth quarter of last year saw an estimated growth of 0.2 percent more than the previous quarter, slightly below the Bank of England's 0.3 percent forecast.

Rob Kent-Smith, head of GDP for ONS, said, "GDP slowed in the last three months of the year with the manufacturing of cars and steel products seeing steep falls and construction also declining."

"However, services continued to grow with the health sector, management consultants and IT all doing well," Kent-Smith said.
Add comments

Latest comments

Latest News
News Most Viewed