U.K.’s Economic Growth Slows to 6-Year Low

February 11, 2019 at 12:12 PM

The British economy expanded by 1.4% last year, its slowest pace since an identical rate in 2012, according to the Office for National Statistics.

Fourth-quarter growth in gross domestic product was only 0.2%, including a 0.4% contraction in December. The services sector, which expanded by 1.7% in 2018, was the economy’s only bright spot.

ONS says slumping factory output, largely in the form of car production, was a major contributor to the economy’s sluggish performance. A slowdown in construction also contributed.

Other economists predict even slower growth in GDP this year because of a weakening global economy and uncertainty over the impact of Brexit.