Tags: EU | Britain | Economy

UK Economic Growth Slows to 0.4 Percent in First Quarter

Wednesday, 27 April 2016 05:27 AM EDT

LONDON (AP) — British authorities say the U.K. economy grew by 0.4 percent in the first quarter of 2016, down from 0.6 percent in the fourth quarter of last year, amid concerns about a global slowdown and a vote on European Union membership.

The Office for National Statistics said Wednesday that services continued to underpin the economy, with growth of 0.6 percent. But other sectors declined, including construction, mining and manufacturing.

Chris Williamson, chief economist of Markit, says uncertainty about the economic outlook "appears to have intensified" ahead of a June 23 referendum on European Union membership.

He added: "The danger is that this will cause a lull in businesses decision making as the June vote draws closer, which will in turn reduce business spending, investment and hiring in the second quarter."

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
British authorities say the U.K. economy grew by 0.4 percent in the first quarter of 2016, down from 0.6 percent in the fourth quarter of last year, amid concerns about a global slowdown and a vote on European Union membership.The Office for National Statistics said...
EU,Britain,Economy
131
2016-27-27
Wednesday, 27 April 2016 05:27 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved