The latest GDPfigures from the Office for National Statistics show not only a modest growth rate of 0.2 percent in the fourth quarter of 2018, but also a recession in the manufacturing sector. As our chart illustrates, the negative growth of -0.70 percent and -1.50 percent year-on-year in the last two three-month periods of 2018 has put this key pillar of the economy in serious jeopardy.
Frances O'Grady, Secretary General of the TUC, commented on the latest results as follows: “The Prime Minister’s failure to rule out a no-deal Brexit is damaging confidence in the economy and stifling growth…. Given the recession in our manufacturing sector, the Prime Minister must act now to eliminate the risk of a collapse…”
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.”.
Keep in touch
