UK economic growth slows to 6M low in 3M

UK economic growth slows to 6M low in 3M

Mubasher: The UK gross domestic product (GDP) grew 0.3% over the three months ended November 2018, slightly slower than the three months ended October, the UK’s Office for National Statistics (ONS) said on Friday.

The growth rate, which was the weakest in six months, was fuelled by expansion in the service sector, while the manufacturing production declined on a plunge in car building.

GDP went up by 0.2% last November, improving marginally from the prior month’s 0.1% growth.

“Growth in the UK economy continued to slow in the three months to November 2018 after performing more strongly through the middle of the year,” the ONS's head of national accounts Rob Kent-Smith said.

“Accountancy and housebuilding again grew but a number of other areas were sluggish,” Kent-Smith added.

By 10:08 am GMT, the GBP/USD rose 0.18% to $1.2770, while the EUR/GBP ticked up 0.08% to GBP 0.9025.