The UK economy grew by 0.5% in the three months after the Brexit vote, the Office for National Statistics (ONS) has said.

The figure for July to September was down from the 0.7% growth recorded in the second quarter of 2016 – the months before Britain voted to leave the European Union.

But it is more robust than many economists had expected – and stronger than the 0.2% forecast last month by the Bank of England (BoE).

The higher-than-expected GDP figure was driven by the services sector – which accounts for more than 78% of the UK economy – which grew by 0.2% in the three months to September.

It helped to offset a 1.4% drop in construction – the steepest fall in the sector since the third quarter of 2012.

Manufacturing was also down 1%, while production fell 0.4% and agriculture slipped 0.7% in the third quarter.

Read the Full Article: Source – SKY
Time For Truth: (SKY) – UK economy grows 0.5% in three months after Brexit vote

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