The British Economy Is Showing Slowest Growth In Five Years

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The British economy is showing slowest growth in five years. The British economy grew by 0.1 percent in the first quarter. That is the slowest increase rate in the last five years, says Fortune News.

 

Statistics from the British statistical office show that the gross domestic product (GDP) is mainly depressed by low consumer spending.

The construction sector even shrank by 0.3 percent, while for the services sector there was a growth of 0.3 percent.

Business investment also declined in the first three months of the year. Analysts doubt that companies keep their hands on hold because of uncertainty about the Brexit.

The figure compares to a previous estimate. In the fourth quarter of 2017, the UK economy went up by 0.4 percent.

On an annual basis, the British economy grew by 1.2 percent. This figure is also by an earlier estimate.

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