"Dismal Q2 figures point at more than a short-term adjustment to earlier stockpiles” says Yael Selfin, Chief Economist at KPMG UK.
“Figures released today show the UK economy continued its downward slide in Q2, with growth in the services sector, which was less affected by the movement in stockpiling earlier this year, falling for the third consecutive quarter.
“It is clear that the uncertainty and prospects of Brexit are causing havoc on the UK business environment, with business investment contracting once again, and significantly hurting the future prospects of the UK economy.
“The outlook for the UK economy remains very fragile in the short term, with the odds of a technical recession (i.e. two consecutive quarters of negative growth), relatively high.”
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