Britain's economy is increasingly showing signs of strain as the Brexit cri...
LONDON - Britain’s economy is increasingly showing signs of strain as the Brexit crisis and the global slowdown intensify, with the loss of momentum appearing to spread to areas which have hitherto been sources of growth.
The different Brexit scenarios for the world’s fifth-largest economy make it hard to gauge the outlook for the year ahead, not least for the Bank of England, and some investors fear Britain is already flirting with recession.Below are some indicators of the British economy and how they have changed since the June 2016 Brexit vote.The gauges of future activity in the Lloyds Business Barometer, CBI Growth Indicator and IHS Markit/CIPS surveys have all turned weakened recently.
As of the second quarter, spending on the latter was about 1.5% lower than in mid-2016, but nearly 7% higher for food and non-alcoholic drinks, according to official data. Wage growth is at a decade-high although the BoE has said it may have peaked and there has been no pickup in productivity.
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