economy · European economy · Global economy

UK economy weakens-Latest update

Life after Brexit is shaping up to be a challenging time for the U.K.

There are many indicators that are worrying the economists and here are some recent developments.

Consumer spending:

Recently consumer prices have risen and consumer spending has started to slow down. Visa stated that consumer spending fell after four years due to rising prices. Traditional brick and mortar stores saw the faster decline in sales.

Weak outlook by businesses:

More than 90 percent of the businesses surveyed state that they are concerned about the economy. Increasing prices and Brexit related uncertainties are the primary drivers.

In addition the central bank released Europe’s GDP growth in 2017 which puts U.K. towards the bottom of the list.

Story continues to evolve…..

UK’s currency valuation challenges continue as pound continues to fall due to Brexit delays and uncertainties.

Political challenges continue for Prime Minister Theresa May who is still to form a government after last Thursday’s election wiped out her parliamentary majority.

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