UK growth hits five-year low

(VOVWORLD) -Economists warn that Britain’s economy is losing momentum after growth almost stalled in the first three months of the year.

The Office for National Statistics reports that the pattern of “slowing growth” continued in the last three months, as consumer-facing industries suffered a slowdown.

Britain’s building sector actually shrank during the quarter, while the dominant services sector grew by 0.3%. Importantly, the data also shows that business investment shrank in January-March 2018. That may be a sign that firms are reluctant to spend on new offices, factories and equipment while Brexit remains so uncertain.