British Economy Slows in 4th Quarter
Britain’s economic growth slowed to 0.4 percent in the third quarter because of weaker oil output, according to figures released Friday by the National Statistics Office – the fifth quarter in a row to show below-trend expansion.
In its first estimate of third-quarter gross domestic product, the statistics office said that the 0.4 percent growth compared with expansion of 0.5 percent in the second quarter. Quarterly trend growth is around 0.6 percent.
Year-on-year GDP grew by 1.6 percent, just above the 1.5 percent annual growth seen in the second quarter.
Source: Myrtle Beach Online.
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