UK growth forecast downgraded as Brexit uncertainty hits investment and trade
The British Chambers of Commerce (BCC) has lowered its UK growth forecast and warned that by 2020 the economy will have experienced its second weakest decade of average annual GDP growth on record.
The BCC has lowered its growth expectations for the UK economy, forecasting GDP growth for 2018 at 1.1%, down from 1.3%, and from 1.4% to 1.3% for 2019.
It said the downgrades for 2018 and 2019 have been largely driven by a weaker outlook for trade and investment.
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