BCC slashes UK growth forecast to 1.1%

Joshua Gibson FXStreet

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.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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