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UK economic growth falls

UK economic growth slowed to just 0.2% in the fourth quarter of 2018, new figures released by the Office for National Statistics (ONS) show. 

Quarterly gross domestic product (GDP) growth slowed after a strong third quarter, in which it grew by 0.6%.

The ONS reports that annual domestic GDP growth for 2018 was 1.4%, the lowest it has been since 2012.

In December, GDP fell 0.4%, having grown 0.2% in both October and November.

Business investment decreased by 1.4% in the last quarter, the fourth consecutive quarter in which there has been a decrease in growth.

ONS head of GDP Rob Kent-Smith, said: ”Declines were seen across the economy in December, but single-month data can be volatile, meaning quarterly figures often give a better indication of the health of the economy. 

“The UK’s trade deficit widened slightly in the last three months of the year, while business investment again declined, now for the fourth quarter in a row.”

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