British economy continues to grow

British flagBritish flag.Photo: pixabay.com

British economy is growing more than expected, inflation is high and unemployment has not changed after the country decided to leave the EU.

Growth in the first three months after brexit- has sustained 0.5 percent, while analysts beforehand predicted a growth of 0.3 percent.

Second-quarter growth was 0.7 percent.

Production in the third quarter increased by 2.3 percent, compared with the same quarter last year.

– The growth pattern continues largely independent of the EU referendum, and the strong growth in the service industry makes up for fall of other industry groups, said the British Statistics Office.

Brexit does not seem to have affected the unemployment rate in the UK, which was 4.9 percent at the end of August, unchanged from the second quarter and the lowest in eleven years.

Inflation rose in September to 1 percent, the highest since November 2014.

 

Source: NTB scanpix / Norway Today

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