Posted by AdviserDirect on 08/30/2019

UK economy falters as slowing global growth adds to recession risk

UK economy falters as slowing global growth adds to recession risk

Boris Johnson is heading into the crunch period for Brexit negotiations with the UK economy potentially on the brink of recession and as global economic growth falters, according to a Guardian analysis of economic news over the past month.

The prime minister faces the challenge of breaking the deadlock with Brussels to avoid a no-deal Brexit on Halloween, just as the outlook for the economy deteriorates at home and abroad.

The latest phase of talks came as Britain recorded the first fall in quarterly GDP since 2012 and as Donald Trump engages the US in a trade war with China, dragging down global trade volumes and economic growth. Economists warned that the wider global slump raised the chances of a prolonged downturn in Britain and made it more difficult for the UK to rely on trade with other nations to boost the economy after leaving the EU.

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