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At the end of last year, the manufacturing sector continued its growth, but in general terms, industrial production showed a decline due to technical problems with the pipeline in the North Sea.
According to the latest report, activity in the manufacturing sector gained 0.3% on an annual basis, which fully coincided with the expectations of experts. December was the eighth month in the cycle of continuous growth. At the same time, industrial production in general terms lost 1.3% of activity, which was 0.4% higher than expected.
Other data showed the growth of the country's foreign trade deficit against the backdrop of the growth of imported oil volumes and the upward price dynamics. In monetary terms, the deficit reached the value of 13.6 billion pounds, which was higher than the expected level. The obtained value was the maximum since the beginning of the autumn of 2016.
Last year, the growth of the British economy was the weakest in the last five-year period. This suggests that the uncertainty of the fate of the Brexit talks prevents the country from taking advantage of the positive effect of the growth of the global economy.