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A future growth of the British economy?

The UK economy is in a good shape, according to the last week economic data, despite the economic uncertainty caused by Brexit. The rate was at 2.3 percent as in February. That’s still the highest since 2013 and up from just 0.5 percent a year ago.

Consumer prices rose

According to the Office for National Statistics, consumer prices rose 0.4 percent. Airfares fell 4 percent, compared with a 23 percent jump a year earlier. Across the UK, prices rose by 5.8% in the year to February, up from 5.3% in January. The most recent figures from the Nationwide and the Halifax have suggested that house price growth is slowing down. However, the ONS data (which include cash sales) show that the average price of a property has risen to a record high of £217,502. According to the Office for National Statistics, consumer prices rose 0.4 percent. Airfares fell 4 percent, compared with a 23 percent jump a year earlier. Across the UK, prices rose by 5.8% in the year to February, up from 5.3% in January. The most recent figures from the Nationwide and the Halifax have suggested that house price growth is slowing down. However, the ONS data (which include cash sales) show that the average price of a property has risen to a record high of £217,502.

UK house price Jan07 Mar17

UK jobless rate, in line with expectations

The ILO jobless rate held steady at 4.7 percent in three months to February, in line with expectations. It has not been lower since June to August 1975. The employment rate was 74.6 percent in three months to February. Average earnings including bonus advanced 2.3 percent annually, slightly faster than the expected 2.2 percent.

Uncertainty for firms in the medium term?

According to a recent business survey, the services sector also recovered to rack up its strongest sales growth since last June's Brexit vote. British manufacturers reported the fastest export growth in more than two years in early 2017. Even if British Chambers of Commerce said firms reported a robust short-run outlook, there was much more uncertainty about the medium term as well as fears of sharply rising costs.

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