UK economy grows slightly more than thought in 2017

MarketsAssociated Press

Official figures show that the British economy grew a bit more than previously thought last year.

The Office for National Statistics said 2017 growth was revised up to 1.8 percent from 1.7 percent previously. The economy has fared better than many thought after the Brexit vote in June 2016, with exporters in particular enjoying a lower pound.

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Still, the 2017 growth performance was the worst since 2012 and doesn't change the underlying picture that the country's economy has slowed sharply since the Brexit vote in June 2016.

Brexit remains the biggest uncertainty surrounding the British economy. With a year to go until Britain officially leaves the EU, it remains unclear how the country will be trading with its main export market after Brexit.