British retailers plan least investment in seven years ahead of Brexit
Though retailers were the most upbeat about the general business situation in more than two years, Brexit and longer-term structural changes cast a shadow
London — British retailers plan the least investment in seven years ahead of the country’s departure from the EU, and job cuts in the business sector have gathered pace, a major survey showed on Friday. Though retailers were the most upbeat about the general business situation in more than two years, Brexit and longer-term structural changes were casting a shadow, according to the quarterly survey from the Confederation of British Industry. The investment intentions balance plunged to -33 in February from -3 in November, the lowest since February 2012, when Britain’s economy was still trying to shake off the after-effects of the global financial crisis. The survey’s employment balance was its weakest since August 2017 at -30. Numerous surveys have shown businesses are holding off on investment while Britain remains at risk of leaving the EU on March 29 without an interim trade deal. Official data for the three months to December published earlier in February showed the biggest fall ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.