Exports to EU down by 3.3%
British exports to Europe have fallen over the past year, for the first time since 2015, a new study suggests.
Between the first and second quarters of this year, the UK's exports fell by 3.3%, and, with growth on a downward trajectoryacrossallkeyexport markets,amarkedrecoveryby theendof2019appearsunlikely, said business advisory firm BDO LLP.
Europe's largest economy, Germany,experiencedaneven more significant annual contraction of exports in recent months, said the report.
Peter Hemington, of BDO LLP, said: "European export growth is on the brink of contraction, having experienced another challenging quarter, and worse is still to come as car sales stall and industrial production levels limp across Europe.
"Services are particularly importanttotheUKastheyaccount for 80% of our economy.
"WhiletheUSremainsBritain's largest services export partner,accountingforalmost a quarter of UK exports in that category, it is concerning to seeweakenedgrowthwithour closest trading bloc.
"Europe imported £28.56 billion worth of services from theUKbetweenAprilandJune 2019, compared to £30.27 billion during the same period in 2018, suggesting Brexit has already caused notable disruption."
*Tony Blair has urged Labourtoensureano-dealBrexit isruledoutcompletely-including if upcoming EU trade talks turn "ugly" - before agreeing to an election.
The former Labour prime ministercalledonpartyleader Jeremy Corbyn to ensure nodeal is entirely off the table as an option, and not only until January.