The Scottish Mail on Sunday
Growth is slowest in a decade at 1.3%
BRITAIN’S economy grew at its slowest rate last year since the financial crisis a decade ago, figures are expected to show this week.
Official results are tipped to reveal a 1.3 per cent rise in GDP for the year – the lowest since 2009. Economists believe the economy ground to a halt in the final three months of the year after posting growth of 0.3 per cent between July and September.
The poor performance has been put down to stockpiling ahead of the second Brexit deadline of October 31.
Companies then used up the stock rather than ordering more, hitting demand in November and December. It is also thought families were put off shopping by bad weather, hitting high street sales. But experts think the economy has improved since the Tories’ Election success in December.
Ruth Gregory of Capital Economics said: ‘Evidence suggests that the economy has rebounded strongly at the start of this year.’