The UK economy showed zero growth in the last quarter of 2019. According to preliminary data from the National Statistical Office (ONS), GDP in October-December did not change compared to the previous quarter. In December, economic growth accelerated by 0.3%. In annual terms, UK GDP in the IV quarter grew by 1.1%, at the lowest rate since the beginning of 2018. Consumer spending in the country grew by only 0.1%, at the lowest rate since the end of 2015. Investment in business fell by 1%, which was the maximum decline since the end of 2016. Manufacturing output fell 1.1% from the previous three months. Service growth slowed to 0.1%. At the end of 2019, the UK's GDP increased by 1.4% compared with a rise of 1.3% in 2018. The Bank of England predicts that in 2020 the UK economy will grow by only 0.8%, at the lowest rate since the financial crisis. In 2021 growth will accelerate to 1.5%, according to the Central Bank.
