UK economy grows 0.5% in Q3 after Brexit
The growth in GDP in Q3, albeit at a slower pace, was attributed to the increase in exports and the increase in consumer spending, according to media reports.
Data from ONS indicated that the UK service industries were up by 0.8% in Q3 of 2016, on a quarterly basis. However, output decreased in 3 industrial groups including construction (1.4%), agriculture (0.7%) and production (0.4%) quarter-on-quarter.
According to media reports, the Office for Budget Responsibility expects the UK economic growth to be at 2.1% for the full year of 2016, revising its initial estimate of 2.2%.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Turkey shattered as PP prices shoot up to surreal levels
- Polymer markets face one of most chaotic times
- Turnaround season set to get underway in Asia
- Crude oil heals COVID-inflicted wounds; now what lies ahead?
- Global shipping turmoil deepens, adding to the upheaval in plastic resins
- China’s post-holiday polymer outlook supported by supply limitations, crude oil
- US PE exports hit record high for 2020 despite production and logistics hurdles
- African PP, PE markets firmer on continued tightness in supplies
- Lack of sales pressure supports SEA PE markets
- Will soaring prices attract PP, PE imports to Europe?