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UK economy slowest since 2012, as Brexit and global worries weigh

Britain's economy slowed sharply in late 2018, pushing full-year growth to its weakest in six years as Brexit worries hammered investment by companies and the global economic slowdown weighed on trade, official data showed on February 11.

The pace of economic growth fell to a quarterly rate of 0.2 percent between October and December from 0.6 percent in the previous quarter, in line with forecasts in a Reuters poll, while output in December alone dropped by the most since 2016.

"The UK economy lost its summer exuberance in the final months of 2018, and there are signs of further chill winds ahead," economist Tej Parikh at the Institute of Directors said.

Sterling fell by a third of a cent to below $1.29.

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