Positive economic outlook
The Office of National Statistics (ONS) reported that the UK economy grew by 0.5% in the last three months, from July to September. Whilst this was slower than the 0.7% rate of the previous quarter, it was stronger than many analysts’ estimates of about 0.3%.
A spokesman from the ONS said: “There is little evidence of a pronounced effect in the immediate aftermath of the [Brexit] vote.”
The Chancellor of the Exchequer, Phillip Hammond said: “The fundamentals of the UK economy are strong and today’s data shows that the economy is resilient.”
According to the Department for Communities and Local Government the number of annual housing “starts” totalled 144,280 in the year to June 2016, up 2 per cent compared with the year to June 2015. During the same period “completions” totalled 139,030, an increase of 6 per cent compared with the last year. The regional map shows that Shropshire, Cheshire and Staffordshire continued to show an increase in both the number of “starts” and “completions” during the year to June 2016.