GDP figures shows that economy is vulnerable to challenges of 2017, says TUC

ONS figures released today (Wednesday) show GDP growth of 0.6% in the final quarter of 2016, meaning annual growth of 2.0% in 2016.

GDP growth in the seven years since the financial crisis has averaged 2.0% a year, lower than the 2.7% in the seven years before.

TUC General Secretary Frances O’Grady said:

“Our economy may have been resilient in the face of the Brexit vote, but GDP growth is stuck in the slow lane. And people are still feeling the financial crisis in their pockets.

“This isn’t a time for government complacency. 2017 will be a challenging year, so ministers can’t let us sleep walk into another living standards crisis.

“Working people mustn’t be forced to pay the price for Brexit. March’s budget must set out a plan to boost wages, and seriously invest in developing our infrastructure and public services.”