UK economy stalls in fourth quarter of 2019 – Saudi Gazette

UK economy stalls in fourth quarter of 2019 – Saudi Gazette

LONDON - Britain's economy saw zero growth in the final quarter of last year as manufacturing shrank heading into the country's general election that unlocked Brexit, official data showed onTuesday.". The British economy would expand by only 0.8 percent this year, the BoE said last month, down sharply on its previous 1.2-percent forecast.. In 2021, gross domestic product was expected to grow 1.4 percent, down on the central bank's estimate of 1.7 percent given in November.. The ONS on Tuesday added that the UK economy grew by 1.4 percent last year after gross domestic product expanded 1.3 percent in 2018.GDP grew 0.5 percent in the third quarter of 2019."The UK economy faced headwinds from domestic political uncertainty and softening global growth last year," said Ian Stewart, chief economist at Deloitte..