LONDON, Jan. 11 (Xinhua) -- The British economy grew by 0.5 percent in the three months to the end of December, according to figures released on Wednesday afternoon.
The figures from the National Institute of Economic and Social Research (NIESR) in London showed that Britain's GDP growth from October to December was stable, the same figure as growth in the three months to the end of November.
The effects on economic growth of the referendum result in June last year to leave the European Union had been forecast to be negative. However, the British economy has proofed resilient since that time.
Simon Kirby, head of macroeconomic modelling at NIESR, told Xinhua: "This represents a reasonable pace of growth for the UK economy. It is driven by continuing robust consumer spending growth, so it is relatively unbalanced.
"One of the most pronounced headwinds is the rise in consumer price inflation which is coming as a consequence of the depreciation in sterling which has already occurred.
"What drove the economy in 2015 and 2016 is where the slowdown will the most pronounced in 2017 and 2018 -- in the form of consumer spending."
