Posted on 01/27/2017 12:09:54 AM PST by aquila48
Who can forget the "doom and gloom" warnings about the fate of the UK should Brexit win? Well, according to the latest confirmation received on Thursday, they were not only wrong but with an ironic twist because according to the Office for National Statistics, the UK economy grew by 0.6% in the Q4 of 2016, more than the 0.5% consensus estimate, and - more importantly - grew by 2% for all of 2016, making the UK the fastest growing economy among the G7 in the past year.
On an annualized basis, the U.K. economy grew 2.4 percent in the fourth quarter. The U.S. is forecast to have expanded 2.2 percent in the period, down from 3.5 percent in the three months through September.
The fourth-quarter GDP estimate showed that services surged 0.8 percent, adding 0.6 percentage point to GDP and offsetting stagnation in industrial production. Within that, the category that includes restaurant and hotels jumped 1.7 percent, its best performance since 2012. The robust data come as Theresa May prepares to meet US President Donald Trump on Friday. This will be an important step in her mission to build a “truly global Britain” that, she believes, will be able to exploit export markets more fully once freed from the constraints of the EU’s common tariffs and commercial policy.
Chancellor Philip Hammond welcomed the figures, saying “every major sector of the economy grew last year, which is further evidence of the fundamental strength and resilience of the UK economy”. He added that, while “there may be uncertainty ahead as we adjust to a new relationship with Europe”, the UK was “ready to seize the opportunities to create a competitive economy that works for all.”
(Excerpt) Read more at zerohedge.com ...
And the Dow was gonna fall to 11 points in Trump’s first week :)
Brexit is great...we should tell Mexico that Mexit would be great for their economy, especially if they build the wall...
France or Holland next?
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