Industry gives Brexit-bound British economy a shot in the arm
London — British industry enjoyed solid growth in November, benefitting from a global upturn that has allowed the economy to outperform gloomy forecasts made after 2016’s Brexit vote, although it still lags behind its international rivals. The British economy grew more slowly than all other Group of Seven members in the first nine months of 2017 as consumer-facing sectors suffered from a surge in inflation caused by sterling’s post-Brexit vote plunge. With departure from the European Union set for March 2019, few economists think growth will improve this year. But the latest official data signalled that industry remains a bright spot: Manufacturers recorded their fastest annual growth since March 2011 in the three months to the end of November, expanding by 3.9% year-on-year. The sector, which accounts for about one-tenth of British economic output, also posted its seventh consecutive monthly expansion — the longest unbroken run in more than 20 years. The National Institute of Econo...
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