Mexican Media Brands
Bank of England Expects No Growth for U.K. in 2Q
The Bank of England has trimmed its growth forecast for Britain’s economy in the current quarter to zero from 0.2%.
#economics
Share
The Bank of England has trimmed its growth forecast for Britain’s economy in the current quarter to zero from 0.2%.
The central bank agreed unanimously to leave its prime lending rate unchanged at 0.75%.
The U.K.’s gross domestic product expanded 0.5% in January-March. The growth was driven by a buildup of inventories by companies bracing for supply chain disruptions when Britain left the European Union at the end of March.
But Brexit has now been delayed until the end of October, but the form of Brexit remains unclear. The central bank says it lowered its forecast for the second period to reflect that uncertainty and because of the prospects of escalating global trade tensions.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.