UK GDP grew by 1.4% in the fourth quarter

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The UK economy grew by 0.2% in the fourth quarter from the previous quarter. This final assessment of the economic growth of the ONS confirmed the forecasts of experts and coincided with a preliminary assessment. At the same time, compared with the same quarter a year earlier, GDP grew by 1.4%, and not by 1.3%, as previously reported. Analysts had expected the annual figure to maintain a 1.3% growth. A weakening of foreign trade, as well as a decline in business investment by 0.3% for the month and by 2.5% for the year had a negative impact on British GDP. At the same time, consumer spending for the quarter showed an increase of 0.3%, while government spending rose by 1.3%. Exports increased by 1.6%, imports - by 2.1%.

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