LONDON — The British economy will weaken in the near-term as firms ease up on Brexit preparations now that the country’s departure from the European Union has been delayed by months, the Bank of England said Thursday. That’s more than double the previous projection of 0.2% made in February and largely due to Brexit-related stock building. Carney said it would be unwise to rule out the prospect of Britain crashing out of the EU without an agreement. As a result, uncertainty over Brexit will cause business investment, which has been falling for over a year, to drop in coming quarters, too. That, according Carney said, “would mark the longest run of falling investment in the post-war era.”Copyright 2019 The Associated Press.

Source: Washington Post May 02, 2019 11:04 UTC