British companies keep investing in third-quarter despite Brexit
UK companies managed to increase their investment by more than expected during the three months as Britain’s economy surged solidly following June's vote to abandon the European Union.
Business investment expanded at a quarterly rate of about 0.9% during the three months to September, as the Office for National Statistics informed, thus ruining expectations for a 0.6% ascend in a Reuters survey of economists.
The ONS officially confirmed that the UK’s economy surged 0.5% during the third quarter, assisted by a rebound in exports and also robust household spending.
While it resembles a much better performance than many experts had expected in the immediate aftermath of Brexit, a much bigger test is awaited next year.
Ascending inflation provoked by the sterling’s post-Brexit vote plunge seems to have squeezed household spending, while there have been worries that business investment looks set to slow.