At a rate of 0.5%, the British economy grew despite the decision to Brexit
The UK economy slowed only slightly in the third quarter of the year following the decision at the June referendum in favor of Brexit, according to the official estimate released today, says a report in the Wall Street Journal. The assessment confirms that Britain withstood better than many had expected, after the unexpected result of the referendum, says the report.
The British Statistical Office announced that the country's economy grew by 0.5% in the third quarter compared with the second quarter corresponding to an annual rate of 2%. The pound strengthened slightly against the dollar and the euro immediately after the announcement, but then returned to its previous level. Growth in the third quarter was higher than the expectations of analysts who had been asked by the WSJ, who predicted a rate of 0.4%, but was lower than in the second quarter, when growth had been 0.7% or 2, 7% annually.
The UK economy slowed only slightly in the third quarter of the year following the decision at the June referendum in favor of Brexit, according to the official estimate released today, says a report in the Wall Street Journal. The assessment confirms that Britain withstood better than many had expected, after the unexpected result of the referendum, says the report.
The British Statistical Office announced that the country's economy grew by 0.5% in the third quarter compared with the second quarter corresponding to an annual rate of 2%. The pound strengthened slightly against the dollar and the euro immediately after the announcement, but then returned to its previous level. Growth in the third quarter was higher than the expectations of analysts who had been asked by the WSJ, who predicted a rate of 0.4%, but was lower than in the second quarter, when growth had been 0.7% or 2, 7% annually.
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