The UK economy went through an unstable period at the beginning of 2018. Based on the survey data for Q2, most of the blame lies with the weather. However, the economy was already having tough times. Is instant approval merchant account no credit check something you’re interested in? Just read this article and you’ll get answers to your questions.
UK Economy Slowdown
The first 3 months of 2018 have been the weakest period of Britain’s economic activity in over 5 years.According to the Office for National Statistics (ONS), there’ve been sharp contraction in the construction sector, weaker manufacturing growth, and limited consumer spending.
Analysts think such slowdown is associated with Brexit uncertainty and the squeeze on household incomes.
The British Chambers of Commerce has downgraded its 2018 growth GDP expectations.The percentage has dropped from 1.4% to 1.3%.This could be the poorest performance since 2009 when the global economy was faced with the credit crunch.
The 2019 outlook has also dropped from 1.5% to 1.4%.According to the BCC, uncertainties around Brexit, possible trade wars, as well as growing oil prices and interest rates are the main factors associated with dragging on the economy.
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