Britain’s economy ended 2015 at its slowest pace of growth for nearly three years, according to the latest figures from the Office for National Statistics.

Fourth-quarter gross domestic product grew by 0.5 percent, up slightly from 0.4 percent in the three months to September but setting the annual figure at 2.2 percent; a considerable fall from last year’s growth of 2.9 percent. According to the International Monetary Fund Britain is set to retain this rate of growth throughout 2016 and 2017, one of the highest rates amongst advanced economies.

Output figures were stronger, with growth in the three months to December 1.9 percent higher than a year earlier, but down from 2.1 percent in the third quarter. These figures are the latest in a string of evidence that global economies are facing a difficult period, that may well continue throughout 2016.

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