Brexit uncertainty has hit UK business: Report

Brexit uncertainty has hit UK business: Report

London, July 11 (IANS) Uncertainty around Britain’s exit from the European Union (EU) has dragged UK business output and optimism to three-year lows, a new report suggested.

The report on business trends from the accountancy and services group BDO said the British economy was already showing signs of slowing ahead of the EU vote on June 24, BBC reported on Monday.

According to the report, manufacturing had the gloomiest outlook, and job creation in the economy slowed to a two-year low.

BDO head Peter Hemington said uncertainty prompted by the Brexit had also disrupted investment in the UK economy, BBC said citing the report.

“We are at a crucial moment where we must be sensible in protecting the UK economy. We need a plan of action now that gives businesses the added confidence to progress with investment plans,” Hemington said.

The report showed business output, which reflected company orders for the next quarter, slipped to 99 last month, compared with 99.7 in May and 100.6 in April.

Meanwhile, business optimism also slid, falling to 98.9 in June from 99.4 in May.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here