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UK economy picked up in Jan but Brexit uncertainty remains

UK economy picked up in Jan but Brexit uncertainty remains | iNFOnews.ca
Demonstrators protest opposite the Houses of Parliament in London, Tuesday, Feb. 26, 2019. Bank of England Governor Mark Carney has warned that the Brexit uncertainty that has dogged the British economy over the past couple of years will remain even if lawmakers agree to a withdrawal agreement with the European Union in coming weeks. (AP Photo/Frank Augstein)

LONDON – Official figures show that the British economy recovered in January from a disappointing end in 2018, though uncertainty remains high due to Brexit.

The Office for National Statistics said Tuesday that the economy expanded by 0.5 per cent from the previous month. That more than recouped the 0.4 per cent decline recorded in December and suggests that the British economy held up in the face of mounting concerns about the potential impact of Brexit.

The monthly increase, which is based on partial data, was broad-based with manufacturing and construction doing well.

Britain is due to leave the European Union in 17 days but uncertainty is high. Prime Minister Theresa May will try to get her withdrawal agreement with the EU through Parliament later Tuesday.

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