The British economy grew in the third quarter of this year, the fastest rate since the end of 2016. As noted in the report of the National statistical service of great Britain (ONS), gross domestic product increased over the period by 0.6%. However, some signs of slowing in September, indicate, according to experts, a possible slowdown in economic growth to “brexton”.
Philip Hammond, Britain’s Finance Minister: “the Figures that we have received, this is very good news. Now we need to focus on ensuring real wage growth and raise living standards”.
In the third quarter the UK economy ahead of the Eurozone economy by a wide margin, helped by higher consumer spending during the warm summer months and during the world Cup. However, the EU believes that the prospects of Albion is quite vague.
According to forecasts from Brussels, UK next year will be the slowest growing economy in the European Union, as well as in Italy, will expand by 1.2%. The report noted that in August and September, the British economy has shifted to stagnation. This is due to slowing retail sales and declining car sales.