UK GDP: British economy stagnates as Brexit uncertainty hits growth – business live

UK economy flatlined in October-December, with service sector growth weak and manufacturing shrinking. But things may be picking up….BREAKING: GDP unchanged in the last quarterONS: Brexit caused volatility in 2019Manufacturing shrank; services struggled; business investment fellBut UK doing better than France or ItalyGreen shoots in December, after grim NovemberIntroduction: We get Britain’s growth report for Q4 2019 today 1.38pm GMT Time for a recapBritain’s economy stagnated in the final quarter of 2019, as political uncertainty, Brexit worries, a slowing eurozone and trade tensions all hurt growth.“There was no growth in the last quarter of 2019 as increases in the services and construction sectors were offset by another poor showing from manufacturing, particularly the motor industry.Eurozone GDP was up 0.1% q/q in Q4. Spain grew 0.5% q/q, France contracted 0.3% q/q as hit by strikes. Germany has not yet released a q/q figure for Q4 1.00pm GMT Chancellor Sajid Javid has managed to respond to today’s GDP figures, without actually mentioning the GDP figures!“We’ve broken the deadlock and left the EU – now we need to seize this moment to level up and prepare our great nation for long-term success. “In my Budget, exactly one month from today, I’ll set out how we will move forward, with more ambition and new thinking, and empower our people and businesses so everyone has the opportunity to thrive.” Continue reading…
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