FIRST AIRED: October 10, 2016

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

We've got more news

Get our editor’s daily email summary of what’s going on in the world.

US Edition
Intl. Edition
Replay Program

World

UK economy loses steam as investment wilts

Opening sequence

Opening sequence

World

UK economy loses steam as investment wilts

0:00
16:53
More Info

COMING UP:UK economy loses steam as investment wilts

×

Transcript

00:00:00
>>
SOUND] U
businesses are less likely to invest or hire, since the Brexit vote, that's according to a new survey by the British Chambers of Commerce. It says, there's a mark slowdown in the services sector, the backbone of the economy. And it's urging the UK chancellor to boost business confidence, in his November autumn statement.
00:00:21
The economy's fared better than many expected, since the vote to leave the EU, largely thanks to upbeat consumers. But the data out Monday raises questions about Britains' longer-term prospects. The BCCs says, the economy is still growing, but at a lower level than before the referendum. And accountants Deloitte say, there's only been a partial rebound in morale since the post-Brexit nosedive.
00:00:45
It says, 40% of chief financial officers expect to cut investments over the next three years.>> Stop fighting.>> Investors are increasingly worried that the UK, will lose its preferential trading terms with the EU, pushing sterling to a fresh 31-year low against the dollar last week. Prominent business groups are calling for the government, to rule out the quote really worst trade options, after Prime Minister Theresa May, suggested immigration would be her main priority.