Britain’s economy lost speed in the three months to October, reflecting lower car sales and factory stoppages due to weaker demand that business groups blamed on uncertainty about Brexit. GDP growth slowed to 0.4%, in line with a Reuters poll of economists, from a strong 0.6% in the third quarter of 2018. Monday’s data confirmed that the economy’s strength over the summer represented something of a blip, caused by a boost to consumer spending from an unusually warm summer. “The latest GDP data is further evidence that the drag effect of persistent Brexit uncertainty and the significant cost pressures faced by consumers and businesses is taking its toll on the UK economy,” Suren Thiru, head of economics at the British Chambers of Commerce, said. Markets showed little reaction to the data, with their focus on whether Prime Minister Theresa May would go ahead with a parliament vote on her preferred Brexit deal due on Tuesday. Looking likely to lose heavily, May postponed the vote over ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now