Britain’s economy will grind to a near standstill over the coming months as post-referendum uncertainty triggers a slump in business investment, a leading business group has warned as it slashed its growth forecasts. A large fall in investment, along with weaker consumer spending, was the main reason for the weaker outlook. Business investment is expected to fall by 2.2% in 2016 and by 3.4% in 2017. Marshall said businesses were relying on ministers to support business investment and confidence. For now most economists – the BCC’s forecasters included – expect the services sector and consumer spending to remain the main driver of UK growth.

Source: The Guardian September 11, 2016 22:52 UTC