UK economy grows at slowest annual rate in a decade as election looms

The economy expanded by 1% in the three months ended September, compared to the previous year, according to data from the Office for National Statistics. It's the weakest annual growth rate since the beginning of 2010.

"Unless Brexit uncertainty fades and a fiscal boost is forthcoming, then this might make the Bank of England more inclined to cut interest rates before long," said Ruth Gregory, senior UK economist at Capital Economics. But the outcome is far from certain, and some worry that the vote will only plunge the country's political system deeper into chaos while extending uncertainty over how Britain will trade in the future.

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UK economy grows at slowest annual rate in a decade as election loomsYears of confusion over Brexit have taken a toll on investment and productivity, leading some economists to call for more stimulus from Britain's central bank
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UK economy grows at slowest annual rate in a decade as election loomsYears of confusion over Brexit have taken a toll on investment and productivity, leading some economists to call for more stimulus from Britain's central bank
Source: CNN Philippines - 🏆 13. / 63 Read more »