According to the recent statement of the S & P the British economy is expected to slow down over the next two years. International credit rating agency Standard & Poor’s (S & P) said that it is expected to slow down the growth rate of the British economy over the next two years.
In the S & P statement, it was noted that the British economy is expected to slow down over the next two years, and that high inflation and weak pound could offset consumer spending.
The analysts of S&P stated that thet expect to see a decline in real incomes in the UK after a moderate increase next year, which will extinguish household spending, and exports of weakening the British pound will not compensate for the decline in domestic demand.
It is emphasized that the European Union (EU) exit period (Brexit) pose a downside risk in terms of the Gross Domestic Product (GDP) of the United Kingdom, while the growth rate of the British economy is expected to be 1.4 percent this year and 0.9 percent next year.
The S & P statement also noted that the Bank of England (BoE) is not expected to increase policy rates before mid-2019.