The British economy grew in the third quarter

In the third quarter the UK economy slowed its growth much more restrained than expected, despite the initial shock caused by the vote of the British people to leave the EU at the end of June. These are the final data of the official British statistics ONS.
Gross domestic product in the UK expanded during the period from July to September by 0.6% compared to the second quarter, when it was recorded growth by 0.7%, while the previous assessment of ONS was for growth by 0.5% in the third quarter.
On an annual basis UK GDP grew by 2.2%, but with previous estimate of an increase by 2.3 percent after growth by 2.1% recorded in the previous quarter.
British statistics noted that the economy has been supported largely by consumer spending which offset the weak performance of exports, analysts say. British exports fell by 2.6% after falling by 1.0% in the second quarter, while imports grew in the third quarter by 1.4% after rising by 1.3% in the three months by the end of June. Meanwhile, business investment growth slowed from 1.0% to 0.4%, agricultural production declined by 0.7% and industrial production - by 0.8%. The services sector grew by 1.0% q/q with previous estimate for an increase by 0.8%, while construction shrank by 0.8%, not by 1.1%, as were previous estimates of ONS.