Economic news

UK performance moves to show worst reading in 2018

Britain’s economy is on track to record its weakest year of nearly a decade pressured by intensifying risks from potential disorderly fall out of the UK from the EU, said the EY Item Club, an economic forecasting group.

It is a single private company employing the Treasury model of the economy, and it has cut expansion rate prediction for 2018 and 2019 citing threats from Brexit with no agreement.

Currently projected growth is 1.3% for this year, driven down from earlier 1.4%. The prediction for the second quarter was softened too.

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