Economic growth for year forecast to be 2.4%,down from 2.6% estimate, with lack of exports and investment cited by expertsBritains economic recovery remains too reliant on debt-fuelled consumer spending, or a main UK business organisation has warned,as it downgraded its growth forecasts in the face of a manufacturing slowdown.
The British Chambers of Commerce (BCC) said on Wednesday that it expected economic growth for this year to be 2.4%, down from the 2.6% it was expecting three months ago; and for 2016 its forecast has been revised to 2.5%, and down from 2.7%. Related: Consumer spending rise troubles Bank of England Continue reading...
Source: theguardian.com