CBI Expects UK Economic Growth Will Stay Stable, but Sluggish in 2018

Forex News

According to the forecast of the Confederation of British Industry (CBI), the economic growth of the UK will remain stable, but sluggish in 2018. According to this organization, the growth of the economy will be restrained due to uncertainty in connection with Brexit. At the same time, household expenditures should not be expected to grow because of a lack of salary growth as the pound depreciates against the world's currencies.

CBI expects a gradual increase in quarterly GDP by 0.3% by the end of 2019. It is also forecast, that GDP will grow by 1.5% in 2017 and 2018 and fall to 1.3% in 2019. Also, entrepreneurs are advised to be prepared for the scenario that Brexit will be held without any deals with the EU.