U.K. Growth Shows an Economy Resilient to Brexit
- Services help economy keep momentum as GDP rises 0.5%
- Construction, production act as drag on quarterly growth
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The U.K. economy slowed less than economists forecast in the quarter after the Brexit vote because of a surge in services, providing ammunition for critics of those who warned of a possible fallout before the referendum.
The 0.5 percent expansion was better than the 0.3 percent median forecast of economists in a Bloomberg survey. Services surged 0.8 percent, offsetting declines in construction and production, its performance helped by box-office receipts for summer movies including Jason Bourne and Star Trek.