Economic growth is “static” amid mounting global and domestic uncertainties, according to the British Chambers of Commerce.
A survey of over 8,500 firms showed historically low confidence in turnover and profitability. Domestic sales and orders in services firms fell in the first quarter of the year, reaching their lowest level for three years. Manufacturers also reported a fall in home sales, which remain low in historical terms. The BCC said “softening environment should be a wake-up call for Westminster.” Shadow business secretary Angela Eagle said the warning lights were flashing red on the economic dashboard, adding: The Chancellor’s ‘plan’ is clearly not working.”