The UK economy accelerated to its fastest quarterly growth rate in almost two years over the summer but economists warned that with Brexit uncertainties curbing spending, the performance would soon decline.
The amount of goods and services produced in Britain grew 0.6 per cent in the third quarter of the year, following 0.4 per cent in the previous three months, and considerably higher than the recent trend.
But the economy lost momentum towards the end of the third quarter: growth in gross domestic product fell to zero in August and September, according to official data.
Suren Thiru, head of economics at the British Chambers of Commerce, said the economy’s strength over the summer had been caused by several temporary factors, including the heatwave, the football World Cup and a royal wedding. “Persistent Brexit uncertainty and the financial squeeze on consumers and businesses [are] likely to weigh increasingly on economic activity in the coming quarters,” he added. [...]
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