UK Economy Flat-lines, hit by Brexit & global slowdown Because of Upcoming Election

Britain’s economy grew at its slowest annual pace in nearly seven years in October, offering a weak backdrop to Thursday’s national election in which both leading parties are promising to boost growth.

The approach of a Brexit deadline and the global economic slowdown hit Britain’s factories and construction industry in the month, official data showed on Tuesday.

Gross domestic product rose by 0.7% compared with October 2018, the weakest growth since March 2012 when Britain was still trying to shake off the effects of the global financial crisis.

In the three months to October, growth flatlined compared with the previous three-month period, the Office for National Statistics said, as expected by economists in a Reuters poll.

The economy also showed no change in monthly terms, the ONS said, weaker than a median forecast of 0.1% growth in the poll.

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