• Friday, May 20, 2022

Business

British Economy Picks Up But Slowdown Looms Prior To Brexit

By: Radhakrishna N S

Britain’s economy has grown at the fastest pace in nearly two years as strong exports and solid household spending offset slumping business investment, data showed Friday (9) awaiting a Brexit deal. Gross domestic product climbed by 0.6 per cent in the third quarter, in line with analysts’ expectations and up on growth of 0.4 per cent in the second quarter, the Office for National Statistics (ONS) said in an initial estimate. At 0.6 per cent growth for July-September, GDP was the strongest reading since the fourth quarter of 2016. Analyst meanwhile expect the economy to cool ahead of Britain’s departure…

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