British economy bucks Brexit fears in Q4

London

THE UK economy grew faster than economists forecast in the fourth quarter, continuing to defy expectations that the Brexit vote would derail the expansion.

The 0.6 per cent gain beat the 0.5 per cent median forecast of economists in a Bloomberg survey and marked a 16th straight quarter of growth. It was driven entirely by services, helped by consumer spending, with zero support from production and construction, the Office for National Statistics said on Thursday.

The economy has performed better than predicted since the vote to leave the European Union in June, though the latest data show that it remains overly reliant on one sector. The support from consumers could weaken this year as the pound's decline pushes up inflat…