The conundrum of economic growth continues. The withdrawal process from the EU is, even by the admission of the most ardent Brexiteers, going pretty badly. We have a rearguard Remain lobby trying to talk down the economy at every opportunity – something which you might think ought to be undermining confidence. And yet still there is no sign of the Brexit-induced recession which the Treasury told us a month before the 2016 referendum would be inevitable within two years of a Leave vote.
The GDP figures for the third quarter released by the Office of National Statistics (ONS) this morning, show that the economy grew by 0.6 per cent in the third quarter. It is not dynamite, especially considering that growth was a more modest 0.1 per cent in the first quarter and 0.4 per cent in the second.
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