2018 will be underwhelming for UK economy

2018 will be underwhelming for UK economy

Britain's economy seems set for a totally underwhelming 2018, as follows from a key poll unveiled on Wednesday. It disclosed that UK businesses appear to be in a subdued mood ahead of Brexit.

For the last three months of 2017 British companies kept grappling with cost pressures, and they were reluctant to invest more, as the British Chambers of Commerce's Quarterly Economic Survey revealed.

The services sector, representing the biggest share of the UK economy, kept expanding at a subdued tempo, as the BCC told. Manufacturers performed better than services businesses, although there still was a slowdown in both exports and domestic sales.

In general, the poll suggested that the British economy ascended moderately at the end of 2017, having picked up a bit for the three months to September with quarterly surge of 0.4%, which is below a historic trend of 0.6%.

Market experts surveyed by Reuters are assured that the world's number six economy will expand moderately in 2018, underperforming many of its peers, although performing better than the gloomy forecasts made around the time of the shocking vote to break up with the European Union in mid-2016.


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