BCC slashes UK growth forecast to 1.1%
|The British Chamber of Commerce (BCC) cut their expectations for UK growth in 2018 to just 1.1%, revising down their previous forecast of 1.3%.
Key highlights
The BCC also trimmed their 2019 growth expectations from 1.4% to 1.3%.
Global repercussions of the US-China trade war and a lack of certainty over Brexit are forcing the BCC to expect a downturn in the UK's economy.
“The changes to our forecast indicate that the UK economy is in for a testing period, with persistent uncertainty and the possibility of a disorderly EU exit increasingly weighing on the UK’s growth prospects,” Suren Thiru, BCC economist.
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