The UK economy showed zero growth in the fourth quarter

the UK Economy showed zero growth in the last quarter of 2019.

GDP in October-December has not changed compared to the previous quarter, according to preliminary data of the National statistical office (ONS).

the Result matched the forecast of economists surveyed by Bloomberg.

In December, GDP rose 0.3%, stronger than forecast.

In annual terms, UK GDP in the IV quarter grew by 1.1%, the weakest rate since the beginning of 2018.

Consumer spending in the country grew by only 0.1%, the weakest rate since the end of 2015. Business investment fell 1%, the biggest decline since the end of 2016.

Production in the manufacturing industry fell 1.1% compared with the previous three months. Growth in services slowed down to 0.1%.

Net trade supported the British economy due to a sharp export growth. Fluctuations in inventory and government expenditure also contributed to GDP growth, the latter grew at the fastest rate since 2012.

By the end of 2019 GDP of great Britain increased by 1.4% compared with a rise of 1.3% in 2018.

the Bank of England predicts that in 2020 the UK economy will grow by only 0.8%, the weakest rate since the financial crisis. In 2021, the growth estimates of the Central Bank, accelerated to 1.5%.