Key indicators of UK economy are very low in the first quarter of 2019 amid Brexit delay and uncertainty, the British Chambers of Commerce (BCC) said Tuesday in a report
MOSCOW (Pakistan Point News / Sputnik - 02nd April, 2019) Key indicators of UK economy are very low in the first quarter of 2019 amid Brexit delay and uncertainty, the British Chambers of Commerce (BCC) said Tuesday in a report.
"The Quarterly Economic Survey (QES) examines business sentiment on a range of forward looking indicators, including investment intentions, turnover confidence, and prices. In Q1 2019, these indicators are downbeat with weakening orders, confidence and investment intentions pointing to tepid growth over the coming quarters. In particular, cash flow - a key indicator of business health - has now fallen into negative territory for the first time since 2012," the report read.
There has been cash flow improvement in Scotland as well as in the northeast and center of England, but in Wales, Northern Ireland and south of England more companies reported cash flow reduction than an improvement.
"Our findings should serve as a clear warning that the ongoing impasse at Westminster is contributing to a sharp slowdown in the real economy across the UK. Business is hitting the brakes - hard. These are some of the weakest figures we've seen in nearly a decade, and that's no coincidence. The prospect of a messy and disorderly exit from the EU is weighing heavily on the UK economy, and must still be avoided," Adam Marshall, the BCC director general, was quoted as saying.
The United Kingdom's departure from the European Union has been delayed past the originally intended deadline of March 29. At the moment, the United Kingdom has until April 12 to find a solution, or it risks leaving without a deal. The UK House of Commons has rejected the EU withdrawal deal three times now, while the European Union has stressed it would not renegotiate the agreement. �
