Businesses across the UK are scaling back investment plans and imposing freezes on recruitment as the uncertainty surrounding the Brexit vote reverberates through the British economy. The Bank of England’s summary of business conditions, based on reports from regional agents, said “investment intentions had fallen since the EU referendum” and pointed to “broadly flat business investment over the next year”. In contrast, investment among consumer services firms had remained more resilient,” the report said. But revenue growth in domestic business services firms slowed over the past three months. “That had mainly reflected heightened uncertainty, which had reduced demand for a range of professional and financial services,” the report said.

Source: The Guardian September 21, 2016 10:20 UTC