UK GDP Expanded Below Forecasts Due to Slow Global Growth

The U.K.’s economic growth slowed more than expected in the fourth quarter of 2014, data showed Tuesday, as the euro zone’s troubles weighed.

According to preliminary data from Office of National Statistics (ONS), Britain’s gross domestic product (GDP) expanded by 0.5 percent in the fourth quarter on the previous three months.

This was below a forecast of 0.6 percent from analysts polled by Reuters, and marked a slowdown from 0.7 percent growth in the third quarter.

Year-on-year, the economy grew by 2.6 percent, however, representing the strongest annual growth since 2007, when it was also 2.6 percent, the ONS said.

The U.K. economy has shown itself to be one the more robust in northern Europe and beyond over the past year, making today’s data something of a concern.

via CNBC

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