UK economy slows sharply in fourth quarter

The UK economy posted lacklustre growth numbers of just 0.2% in the last three months of 2018. This figure for the year was at 1.2% which is the slowest rate of expansion since 2012. Headline contributors to the slowdown were seen in UK manufacturing and UK consumer spending which appeared to show signs of being susceptible to concerns over Brexit uncertainty. These growth figures have prompted the UK central bank to put the likelihood of a UK recession this summer at 25%. Whilst this news is negative on a headline level, there remains positivity for UK growth should Parliament be able to secure itself a Brexit deal enabling UK businesses to once again begin to spend capital on expansion plans.