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- Outlook for UK business darkens fast ahead of Brexit - British Chambers of Commerce
Outlook for UK business darkens fast ahead of Brexit - British Chambers of Commerce
Fading exports and worsening finances spurred a darker outlook for British companies last month, hurt by a slowing global economy and political chaos around Brexit, a survey showed on Tuesday.
The British Chambers of Commerce's (BCC) Quarterly Economic Survey showed a familiar picture of weak investment ahead of Britain's departure from the EU, across both the manufacturing and services sectors.
The BCC said growth in services exports, which account for about 45% of total exports, slowed to their weakest rate since 2009. Its gauge of firms' cashflow turned negative for the first time since 2012 and investment intentions for both manufacturers and services firms were the weakest in over eight years.
Overall, the BCC report adds to a string of downbeat data from businesses ahead of Brexit, despite solid consumer spending and a robust labour market.
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