Recession Fears Spread As Brexit Weighs On Housing And Spending

A plunge in consumer and business confidence raised fresh concerns about a potential recession as a raft of data suggested Westminster’s Brexit crisis is beginning to strangle the UK economy. Bank of England figures revealed a slowdown in consumer spending, with the annual growth of consumer credit standing at 5.5% in July, markedly lower than its peak of 10.9% in November 2016. Shoppers borrowed £900 million in July, well below the £1.5 billion average from January 2016 to June 2018. Read more on the Evening Standard website.

https://www.standard.co.uk/business/recession-fears-spread-as-brexit-weighs-on-housing-and-spending-a4225136.html