UK economy grows 0.5% after Brexit vote


The UK’s service sector helped the economy to grow faster than expected in the three months after the Brexit vote, official figures have indicated.

The economy expanded by 0.5% in the July-to-September period, according to the Office for National Statistics.

That was slower than the 0.7% rate in the previous quarter, but stronger than analysts’ estimates of about 0.3%.

“There is little evidence of a pronounced effect in the immediate aftermath of the vote,” the ONS said.

The stronger than expected growth will further dampen expectations that the Bank of England’s Monetary Policy Committee will cut interest rates next week.

The economy was boosted by a particularly strong performance from the services sector, which grew by 0.8% in the quarter.

Transport, storage and communication was the strongest part of the service sector, growing by 2.2%. That was the fastest pace since 2009 and was helped by a healthy quarter for the UK’s film industry. The latest films in the Jason Bourne and Star Trek franchises were released in July along with other popular productions, lifting takings at box offices.


not exactly the doom that was predicted..


~ by seeker401 on October 31, 2016.

One Response to “UK economy grows 0.5% after Brexit vote”

  1. Reblogged this on World4Justice : NOW! Lobby Forum..

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: