12 September 2016 at 2:17 GMT
Britain’s economy will grind to a near-standstill over coming months as post-referendum uncertainty triggers a slump in business investment, a leading business group has warned as it slashed its growth forecasts. Katie Allen writes that in its first set of forecasts since the vote to leave the EU, the British Chambers of Commerce (BCC) more than halved its GDP growth prediction for next year from 2.3 percent to 1.0 percent. That would mark the worst economic performance since 2009, when the UK was emerging from a deep recession sparked by the global financial crisis. Recent economic indicators suggest activity has rebounded from an initial post-referendum dive but the BCC’s gloomy outlook shows that businesses remain nervous about the prospect of protracted negotiations to leave the EU and about potential trade deals.
Read full article at The Guardian