U.K. GDP Did Not Budge in the Fourth Quarter of 2019
by Alex Hickey
U.K. GDP growth stood still in Q4 2019, the region’s last full quarter in the EU.
- In addition to Brexit uncertainty, slower trade and a wilting eurozone dragged down growth.
- But as much as we mercilessly teased the U.K. in 2019, its full-year economic growth of 1.4% outpaced that of France and Germany.
Looking ahead…January data shows the U.K. doing better than expected. Keep an eye on trade talks with the U.S. and Parliament’s attempts to juice the economy.
PM Boris Johnson greenlit HS2 yesterday, a controversial $140 billion high-speed rail line. It was delayed while Johnson reviewed the ballooning price tag and environmental concerns.
- The plan: 345 miles of tracks connecting London to northern England. Once operational, it’ll carry ~300,000 passengers daily and reduce the trip to Hogwarts by 20%. HS2 will be Europe’s largest infrastructure project.
It also lets Johnson reward Midland and northern Tories for their electoral support in December, when he promised to shift the U.K.’s economic gravity away from London.