Mexican Media Brands
U.K.’s Economic Growth Slows to 6-Year Low
The British economy expanded by 1.4% last year, its slowest pace since an identical rate in 2012, according to the Office for National Statistics.
#economics
Share
The British economy expanded by 1.4% last year, its slowest pace since an identical rate in 2012, according to the Office for National Statistics.
Fourth-quarter growth in gross domestic product was only 0.2%, including a 0.4% contraction in December. The services sector, which expanded by 1.7% in 2018, was the economy’s only bright spot.
ONS says slumping factory output, largely in the form of car production, was a major contributor to the economy’s sluggish performance. A slowdown in construction also contributed.
Other economists predict even slower growth in GDP this year because of a weakening global economy and uncertainty over the impact of Brexit.
RELATED CONTENT
-
What Suppliers Need to Know Right Now
This is a time of reckoning for the auto industry, says Paul Eichenberg. He has some recommendations as to how companies can make their way through it.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.