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Despite Brexit drag, UK economy grows fastest in last three months of 2017

Investors took the data as a sign that the Bank of England might move more quickly towards only its second interest rate hike in more than a decade

Reuters  |  LONDON 

Britain's economy unexpectedly picked up speed in the last three months of 2017, according to data which showed that the prospect of Brexit was still weighing on the economy, but not as heavily as once feared by investors. Gross domestic product grew at its fastest pace of 2017, rising by 0.5 percent from the third quarter and beating the median forecast in a Reuters poll of economists that growth would remain at 0.4 percent. But the Office for National Statistics said the big picture was one of a slower and more uneven expansion in the world's sixth-biggest economy as it ...

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First Published: Fri, January 26 2018. 19:24 IST