The UK economy grew by 0.2% in Q4 2018, down from 0.6% in the previous quarter, while gross domestic product declined by 0.4% in December, and grew by 1.4% across 2018, the lowest level for six years, according to the Office for National Statistics. With less than 50 days to go before Brexit, the figures showed all three drivers of growth in the British economy – services, production and construction – shrank during December. It also revealed the UK's manufacturing sector experienced its sixth consecutive month of declining output, with business investment falling for the fourth consecutive month. " The ONS data shows that we are still facing a challenging economic outlook, but it is clear that our recovery has been built on solid foundations over recent years," said Andrew Sentance, chief economist at PwC.
The UK economy grew by 0.2% in Q4 2018, down from 0.6% in the previous quarter, while gross domestic product declined by 0.4% in December, and grew by 1.4% across 2018, the lowest level for six years, according to the Office for National Statistics. It also revealed the UK's manufacturing sector experienced its sixth consecutive month of declining output, with business investment falling for the fourth consecutive month. "The ONS data shows that we are still facing a challenging economic outlook, but it is clear that our recovery has been built on solid foundations over recent years," said Andrew Sentance, chief economist at PwC.