British Chambers of Commerce (BCC) donning the Sherlock cap and citing Brexit for the dour expectations.
Via Reuters: :
BCC lowered its overall growth forecast for Britain's economy to 1.2 percent in 2019
- from a previous estimate of 1.3 percent.
- would be the economy's weakest growth in a decade
- reflecting a slowdown in the global economy as well as Brexit
British companies look set to cut investment by the most in 10 years in 2019 because of Brexit, even if Prime Minister Theresa May gets a deal to ease the country out of the bloc, an employers group said on Monday
- Business investment forecast to fall by an annual 1.0 percent in 2019
- business investment was expected to grow by 0.6 percent in 2020 and 1.1 percent in 2021
"Political inaction has already had economic consequences, with many firms hitting the brakes on investment and recruitment decisions," Adam Marshall, the BCC's director general, said. "Worse still, some companies have moved investment and growth plans as part of their contingency preparations. Some of this investment may never come back to the UK."
