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UK economy stalls but revival expected in 2020

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10/12/2019
UK economic growth stalled in the three months to October, with experts blaming Brexit-related uncertainty and slower global growth.

GDP was flat for the period, with growth in services offset by falls in manufacturing and construction, according to the Office for National Statistics (ONS).

The figures are the last readings to be released before the general election on Thursday.

John Hawksworth, chief economist at PwC, said: “GDP was flat in both October alone and the three months to October, confirming a loss of momentum in the economy since the summer due to Brexit-related uncertainty and slower global growth.

“The sectoral breakdown showed a familiar pattern, with services growth modestly positive in the three months to October but manufacturing output declining.  Construction output also registered a particularly sharp drop in October as both infrastructure projects and housebuilding fell back.

“Growth seems likely to remain subdued through the rest of 2019, but we would hope for a gradual revival in activity over the course of 2020 if current political and economic uncertainties ease. Our main scenario is for 1% GDP growth in 2020 assuming an orderly Brexit.”

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