Nov 9, 2018
UK economy grows at fastest rate since late 2016
The UK economy grew by 0.6% in the three months to September, with warm weather boosting consumer spending, the Office for National Statistics said. It is the highest quarterly growth figure since the fourth quarter of 2016, when the economy grew 0.7%. Analysts warned the economy had "Little underlying momentum" and growth would decline in the final three months. After a slow start to the year, construction activity grew by 2.1% in the quarter. Household spending grew by 0.5% in the quarter, but business investment shrank by 1.2%, suggesting uncertainty among companies over the effects of Brexit. "ONS head of national accounts Rob Kent-Smith said:"The economy saw a strong summer, although longer-term economic growth remained subdued.
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