British economy defies Brexit gloom with expanding growth
Xinhua, London
The British economy defied the headwinds of Brexit uncertainty to record improved GDP growth over the third quarter of this year, according to figures released on Friday.
The British economy grew at 0.6 percent over the third quarter (August-October), a 50-percent jump in the rate of growth over the second quarter, which recorded 0.4 percent growth, according to data from the Office of National Statistics (ONS), the official data body.
This is the fastest rate of growth since the Brexit referendum vote in June 2016 set Britain on a path to exit the 29-member European Union (EU), and is above the
post-referendum trend British rate of about 0.4 percent a quarter.
The 0.6 percent growth also outstrips growth in the EU as a whole which has hit an abrupt slowdown, growing at just 0.3 percent in the EU28 area and 0.2 percent
across the euro currency nations.
Weather-related economic weakness at the start of the year, with prolonged snow and low temperatures freezing economic growth at close to zero over the first quarter, has now had a beneficial effect on growth.
