Heightened Brexit uncertainty and a weaker global backdrop see a material deterioration in short-term prospects for the UK economy.
The UK economy continues to face a mixed outlook, which will be highly dependent the outcome of Brexit negotiations. Given the deterioration in the domestic and external environment, we now expect the UK economy to remain practically flat in the first quarter of this year. We have revised our growth for 2019 as a whole to only 1.2%; we expect a modest pick up to 1.5% growth in 2020.
Read our full UK Economic Update – February 2019.