March Firms: Fuelling Concerns and Import Tariffs

march firms: This was its lowest reading since April 2013, fuelling concerns that Britain's private sector has been shrinking in the run-up to the scheduled Brexit leave date of 29 March, according to The Guardian. Firms warned that the outlook for the next three months was even bleaker as the battle between the US and China over import tariffs harmed global trade. The CBI's measure of private sector growth dropped to -3 in February from zero in January. Record job figures hide the true story of UK economy Richard Partington Read more Manufacturing, which according to official figures is in recession, was among the worst affected parts of the economy, although it was a sharp slowdown in the usually robust services sector that accelerated the drag on growth in the three months to February. More and more companies are hitting the brakes on investment and day-to-day business decisions are becoming increasingly problematic, the CBI's chief economist, Rain Newton-Smith, said. The CBI said its growth indicator showed that private sector businesses were under pressure from squeezed household earnings and the prospect of a no-deal Brexit, which deterred business investment. (news.financializer.com). As reported in the news.