Connect with us

Hi, what are you looking for?

Uncategorized

UK economy shrinks as Brexit looms

The UK’s economy shrank for the first time since 2012 in the second quarter.

The decline does not auger well as the country prepares to leave the EU on October 31st.

Gross domestic product fell at a quarterly rate of 0.2% in the three months to June.

Advertisement

Financial experts had predicted it would stay steady.

And, year on year economic growth slid from 1.8% to 1.2% in the first quarter.

The Office for National Statistics said the it was weakest period since the start of 2018.

Annual growth in June alone was the weakest since August 2013 at 1.0%.

Experts say – as Brexit looms nearer without a deal – that the financial future is uncertain.

 

 

Comments

Latest Tweets

Advertisement

You May Also Like

United Kingdom

Film director Ridley Scott has recalled the death of actor Oliver Reed while making the Oscar winning blockbuster Gladiator. Scott said hard-drinking Reed “just...

Business

The controversial Russian businessman Viktor Baturin, well-known for his years-long counterstanding with his wealthy sister Elena, widow of Moscow ex-mayor Yuri Luzhkov, is likely...

United Kingdom

The Tremeloes. Dave Munden centre Dave Munden the Tremeloes drummer – and often lead singer – with the 60s chart toppers has died. He...

United Kingdom

The Watneys Party Seven is making a comeback. The ubiquitous 70s beer was a bland fizzing bitter ridiculed by many. The drink’s insipidness helped...