British Chamber of Commerce Survey Shows UK Slowing Down

Britain’s economy slowed in the third quarter of this year, according to a survey by the British Chambers of Commerce (BCC), which could raise concerns for the U.K.’s future economic growth rate.

The business lobby group’s Quarterly Economic Survey, contributed to by nearly 8,000 businesses, showed that manufacturing and export balances had fallen in the third quarter.

“The strong upsurge in U.K. manufacturing at the start of the year appears to have run its course.” John Longworth, Director General of the BCC said in a statement. “We may be hearing the first alarm bell for the U.K. economy, but this not need be the case.”

Two manufacturing measures – domestic sales and domestic orders – fell steeply during the quarter. However, in the previous quarter, three manufacturing measures had posted all-time highs. For exports, all balances – which includes manufacturing export sales and manufacturing service sales — fell in the third quarter.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza