UK GDP growth drops to weakest level since 2012

As Brexit uncertainty weighs

Tom Eckett
clock • 1 min read

UK gross domestic product (GDP) expanded by 0.2% in the final three months of 2018, down from 0.6% in the third quarter of the year and missing analysts' expectations of 0.3% growth.

According to the Office for National Statistics (ONS), Q4 performance dragged annual GDP down to 1.4% in 2018, the lowest growth since 2012. GDP fell 0.4% in December, having grown 0.2% in October and November, driven by a drop in construction, production and services output in the final month of the year. In Q4 overall, the services sector expanded 0.4% while production and construction fell 1.1% and 0.3%, respectively. Business investment contracted for the fourth consecutive quarter, falling 1.4% in the final three months of the year. Brexit Blog: Businesses warned of UK's fa...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read
Bank of England halts interest rate cuts amid ongoing inflation

Bank of England halts interest rate cuts amid ongoing inflation

As priced in by markets

Sorin Dojan
clock 20 March 2025 • 2 min read
More work needed to tackle inflation as BoE members warn of further market turmoil

More work needed to tackle inflation as BoE members warn of further market turmoil

BoE MPC members spoke at Treasury Committee hearing

Sorin Dojan
clock 06 March 2025 • 2 min read