UK ECONOMY SLOW BLOW

THE UK economy will grow at a slower pace than expected next year, with trade set to lag “significantly”, a business group is predicting.

The British Chambers of Commerce said economic growth was projected to slow down to 4.2 per cent in 2022, compared to its previous forecast of 5.2 per cent. The downgrade largely reflects a softer outlook for consumer spending amid an anticipated “running down” of household savings built up during lockdowns, said the BCC.