Britain’s economy could grow at the slowest rate since 2009, courtesy of Brexit uncertainties, fears of a trade war, and higher oil prices, the British Chambers of Commerce (BCC) said on Monday.
The BCC now sees Britain’s economy expanding 1.3 percent in 2018 vs the previous forecast of 1.4 percent and also cut its outlook for 2019 to 1.4 percent.
“The economy is in a torpor, with uncertainties around Brexit, interest rate rises, and international developments such as a possible trade war and rising oil prices all having an impact,” the BCC said, according to Reuters News.
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