Brexit’s toll: UK economy weakest since financial crisis

World News

February 11, 2019 - 9:47 AM

LONDON (AP) — Britain’s economy slowed last year to its weakest growth rate since the global financial crisis as mounting uncertainty over Brexit weighed on businesses and kept a lid on their investments, official figures showed today.

The Office for National Statistics said that the British economy grew by a quarterly rate of only 0.2 percent during the fourth quarter, down from the 0.6 percent tick recorded in the previous three-month period. Output actually fell in the month of December, by 0.4 percent from November, though monthly data are known to be volatile.

For 2018 as a whole, the economy grew by 1.4 percent, its lowest rate since 2009, when it contracted by 4.2 percent in the wake of the global financial crisis that had brought much of the world’s banking system to its knees.

Related
May 7, 2020
April 30, 2020
March 11, 2020
March 3, 2020