Report: UK Firms Post Weakest Growth Since 2013
The Confederation of British Industry reported yesterday that its index of private-sector activity dropped three points in February — from zero in January — amid fears of a no-deal Brexit. As the deadline for the British withdrawal from the EU nears, further drops are expected over the next three months. Even if Brexit goes smoothly, the Bank of England predicts the nation’s economy will grow by merely 0.2 percent in the first quarter.
Are all indicators bad? Not quite: Other reports suggest European investment in Britain has more than doubled since the 2016 Brexit referendum, totaling some $31.1 billion in the past year.