Growth 'to slow' as drop in spending and investment holds down economy
Britain should brace itself for a growth slowdown in the coming years, as falling consumer spending and business investment applies the brakes to the UK economy, a report said.
Influential think tank EY Item Club said the UK economy will stump up gross domestic product (GDP) growth of 1.9% this year, fuelled by a 2.5% rise in consumer spending on the back of low inflation.
However, this performance is expected to fizzle out, as inflation jumps 2.6% next year and 1.8% in 2018, causing consumer spending to slump to 0.5% and 0.9% respectively.
Business investment is also slated to take a hefty... read more
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