UK's Fox: Brexit isn't the only factor in GDP slowdown
Comments by UK trade secretary Liam Fox
- China slowdown is also affecting global growth
There is no doubt that China's growth slowdown is also weighing on global trade but you have to at least address the elephant in the room as being the main problem and not talk about the tiny mouse in the corner.
With Brexit uncertainty weighing on all aspects of the economy, total business investment in the UK declined in all four quarters in 2018. I don't think we can accurately compare the situation in the past to this, but the last time business investment saw such a similarly worrying trend was back in the early 90's.