Britain’s economy grew THREE TIMES faster than the Eurozone — despite ‘worrying slide in business investment’

BRITAIN’s economy grew THREE TIMES faster than the Eurozone over the summer – despite a worrying slide in business investment. Official figures revealed GDP rose by 0.6 per cent between July and September – powered by higher consumer spending, better than expected exports, fewer car imports, and a rebound in construction. It’s the fastest rate since late 2016 and compares with 0.2 per cent for the Eurozone. France achieved 0.4 per cent. The figures came a day after the European Commission said the UK would be the sick man of Europe over the next two years – with the slowest growth of any country across the Continent. Speaking from a visit to a Fuller’s brewery, Chancellor Philip Hammond insisted the figures were “proof of the underlying strength in our economy”. He said: “We are building an economy that works for everyone. Now our focus is on locking in this progress and ensuring people’s wages continue to rise.” But analysts warned figures for September alone showed a marked softening – with falling shop sales, car sales and a fall in output in the all-important services sector. And while household spending in the third quarter rose, business investment dropped by 1.2 per cent. City experts blamed the “Brexit paralysis”. Danske Bank claimed as many as 50 per cent of UK companies had postponed investment decisions because of the uncertainty over the PM’s negotiations. Exclusive BACKSTOP DEAL BLOW PM’s hopes for a November Brexit deal hang by thread after customs row ‘NO SAFETY… [Read full story]