BCC warns 'no sign' of healthier UK economic growth on horizon

Quarterly forecast released

The British Chambers of Commerce (BCC) has given a more pessimistic outlook for the UK economy, downgrading its medium-term growth forecasts.

According to the Financial Times, the business group said there was "no sign on the horizon of a return to healthier levels of growth". In its latest quarterly forecast, the group said this was based on the assessment that the disappointing economic response to sterling's fall since last year's EU referendum will continue. There had previously been expectations the depreciation in sterling would lead to a boom in British exports. The BCC expects the UK economy to grow at 1.6% this year, slightly up from its previous forecast of 1.5%, according to the FT. Rogoff: Rising interest rat...