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British Chamber of Commerce (BCC) Forecast
The latest British Chambers of Commerce (BCC) forecast makes interesting reading as Brexit uncertainty continues to impact confidence levels and has resulted in a downgraded growth forecast of just 1.2% in 2019 (down from 1.3%), which if realised would be the weakest growth in a decade. The BCC has also downgraded its growth forecast for 2020 to 1.3% (down from 1.5%) and published its first forecast for 2021 of 1.4% growth. Business investment is also forecast to decline by 1.0% in 2019, which would be the weakest outturn since the financial crisis in 2009. Ongoing uncertainty over the UK’s future relationship with the EU continues to impact investment intentions. Average…