UK GDP: Economy avoids recession despite weakest growth in a decade – business live

Britain’s economy grew by 0.3% in the last quarter, after shrinking in Q2, but annual growth slowed to just 1%Latest: UK economy grew 0.3% in the last quarterBut annual growth is weakest since 2010Service sector grows, but manufacturing stagnatesMoody’s has threatened to downgrade UK credit rating 1.49pm GMT Sajid Javid is correct when he says that Britain is expected to grow faster than Japan, Italy and Germany in 2019 and 2020.But that’s hardly impressive. Italy has been stagnating for years, Germany will probably tumble into recession on Thursday, and Japan’s export-driven economy has been hurt by the US-China trade war. 1.24pm GMT UK chancellor Sajid Javid has insisted that the UK economy is in good shape, despite annual growth slowing to a nine-year low.Over the last nine years since the Conservatives have been back in office we’ve seen nine consecutive years of growth.These are all good signs of the fundamental strength of the economy.We are doing better than many of our competitors….Here at home there are factors at play, and the number one issue is around uncertainty, around Brexit. Continue reading…
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