UK boost but economy faces ‘underwhelming’ 2018

British industry enjoyed solid growth in November, benefiting from a global upturn that has allowed the economy to outperform gloomy forecasts made after the Brexit vote, although the economy still faces an “underwhelming” 2018.

British industry enjoyed solid growth in November, benefiting from a global upturn that has allowed the economy to outperform gloomy forecasts made after the Brexit vote, although the economy still faces an “underwhelming” 2018.

The British economy grew more slowly than all other Group of Seven members in the first nine months of 2017 as consumer-facing sectors suffered from a surge in inflation caused by sterling’s Brexit vote. With its departure from the EU set for March 2019, few economists think growth will improve this year. But the latest official data signalled that industry remains a bright spot: Manufacturers recorded their fastest annual growth since March 2011 in the three months to the end of November, expanding by 3.9% from a year earlier. However, the British Chambers of Commerce (BCC) said its latest quarterly survey showed the UK economy was set for an underwhelming 2018 because of Brexit.