According to the British Chambers of Commerce’s quarterly economic survey, found that key indicators of UK economic health weakened considerably in Q1. In particular balance of services companies reporting rise in exports sales dropped to lowest in a decade. Balance of firms reporting improved cashflow turned negative for the first time since 2012. Also, investment intentions in manufacturing and services were at lowest in eight years.
BCC Director General Adam Marshall said “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.” Also, “the prospect of a messy and disorderly exit from the EU is weighing heavily on the UK economy, and must still be avoided”
Marshall also complained that “for too long Brexit tunnel-vision has distracted government from fixing the fundamentals to support growth here in the UK.”
