GDP Grew 2.6% in the Final Quarter of 2017

Britain's economy grew by 0.5 per cent in the final three months of 2017 beating expectations and continuing steady growth since the Brexit vote

The British economy grew at a faster rate than expected in the three months to the end of December.

Describing 2017 as a disappointing year and delivering the UK's weakest growth performance in five years, she said: "This is not impressive for a small, open economy that would normally expect to be benefiting from 2017's healthy global pick-up".

At 1.5%, the first estimate of GDP growth was above the 1.4% forecast and Sterling, which has been strengthening throughout the week, pushed a little higher.

It should be noted that Friday's GDP figures could still be revised higher or lower, and reflect a preliminary sample of all the data the ONS collects about the quarter.

"The data right now look very consistent with the CEA view that the economy is growing at rate that is going to be going into next year north of 3 percent", Hassett told Fox Business.

The average growth in GDP over former President Barack Obama's second term? 2.2%.

For now, the International Monetary Fund is also projecting that Mexico, while mired in the uncertainty of ongoing NAFTA discussion with the United States and Canada, will also show incremental improvement with 2.3% growth in 2018 and 3.0% in 2019.

Current-dollar GDP increased 4.1 per cent, or $762.3 billion, in 2017 to a level of $19,386.8 billion, compared with an increase of 2.8 per cent, or $503.8 billion, in 2016.

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"Bank of England governor Mark Carney said in Davos recently that he expects the United Kingdom economy to "recouple" with the global economy this year as Brexit negotiations provide greater clarity over our future trading relationship with Europe", he said.

Whether that growth continues, however, will be influenced by many factors outside Trump's control. Rather than fizzling, the expansion is being spurred on by robust consumer spending and business investment.

Growth was expected to be 1.4%.

At a time when the global economy is motoring, it ought to be doing better. For the year, such investment rose by a similar margin, posting the best 12-month gain in three years. Now, the Fed is incrementally raising rates, hoping to ward off future inflation and preserve the tools it needs to address the next recession. A reason for this is an increase in person income.

Gross domestic product expanded at a 2.6% annual rate also restrained by a modest pace of inventory accumulation, the Commerce Department said in its advance fourth-quarter GDP report on Friday.

Imports, which subtract from GDP growth, increased at their fastest rate in more than seven years, up 13 9 per cent.

However, the result is subject to revision as more data become available.

GDP growth stood at 1.9 per cent in 2016, suggesting that Brexit has barely slowed the economy down.

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