The GDP Growth in the UK in 2018 Uncategorized

 

The gross domestic product (GDP) of the United Kingdom grew by 0.4% in the second quarter of the year (April to June) compared to the previous three months, according to the National Bureau of Statistics (ONS, acronym in English).

The services sector, vital for the country, representing 79% of the economy, and the construction sector contributed to the quarterly increase, increasing 0.5% and 0.9%, respectively, although the industrial sector fell 0.8%. %, added the source.

ONS public accounts director Rob Kent-Smith said today that the economy improved a little thanks to the improvement “of retail sales and construction for good weather”.

Consumer spending increased by 0.3% and company investments rose by 0.5%, according to the ONS, which pointed out that the trade deficit widened by 4.7 billion pounds (5.273 billion euros) in the second quarter.

This data comes at a time of uncertainty about the Brexit, or British exit from the EU, due to the lack of progress on the future commercial relationship between the United Kingdom and the European bloc.

The United Kingdom and the EU aspire to agree on the framework of the future bilateral relationship for the October European Council, although for the moment there are differences regarding the latest British proposal sent by London to Brussels on July 12.

This plan, known as “Checkers”, contemplates, among other things, the creation of a common market for agricultural goods and products, which would lead to the British customs collecting taxes in the name of 27, something not well seen by some deputies .

After knowing the British GDP, the pound sterling rose slightly against the euro, by 0.1%, to 1.11 euros.

 

TTA

The GDP Growth in the UK in 2018

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