UK’s growth prospects up­graded

China Daily (Canada) - - BUSINESS -

Bri­tish econ­omy is pre­dicted to grow by 1.4 per­cent this year, ac­cord­ing to a new­fore­cast re­leased on Tues­day by the Bri­tish Cham­bers of Com­merce. BCC, a ma­jor in­dus­try rep­re­sen­ta­tive body, raised its forecast in its lat­est quar­terly re­viewof the UK econ­omy from 1.1 per­cent, re­flect­ing the un­ex­pected buoy­ancy in the econ­omy in the im­me­di­ate wake of the Brexit ref­er­en­dum vote on June 23 and which has con­tin­ued its mo­men­tum into this year. How­ever, it has down­graded its ex­pec­ta­tions for 2018 from 1.4 per­cent to 1.3 per­cent, and made its first forecast for 2019 of 1.5 per­cent growth.

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