The latest GDP figures from the Office for National Statistics show not only a moderate growth rate of 0.2 percent in the fourth quarter of 2018, but also a recession in the manufacturing sector. As our chart shows, negative growth in the last two three-month periods of 2018 of -0.70 percent and -1.50 percent year-on-year, respectively, has put the main economic pillar in serious trouble.
Frances O'Grady, General Secretary of the TUC, commented on the recent results as follows: “The failure of the Prime Minister to exclude a Brexit without trading harms trust in the economy and brakes growth ... In view of the recession in our manufacturing sector, the prime minister must now act to eliminate the risk of crash ... ”
As well as delivering news of a measly 0.2 percent growth rate in Q4 2018, the latest GDP figures from the Office for National Statistics revealed a manufacturing sector in a recession. As our chart shows, negative year-on-year growth in the last two three-month periods of 2018 of -0.70 percent and -1.50 percent have plunged the key economic pillar into serious trouble.
Commenting on the latest results, Frances O'Grady, general secretary of the TUC, said: “The prime minister's failure to rule out a no-deal Brexit is harming confidence in the economy and holding back growth…With our manufacturing sector in recession, “The prime minister must act now to remove the threat of crashing out.”.
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