The Confederation of British Industry cut its economic growth forecasts, citing the approach of the European Union referendum, and retailers and pay experts also pointed to a subdued outlook in other reports published on Monday.
The CBI, which has stressed the economic benefits of staying in the EU, said worries about the outcome of the June 23 vote were adding to a broader economic slowdown.
“A dark cloud of uncertainty is looming over global growth, particularly around weakening emerging markets and the outcome of the EU referendum, which is chilling some firms’ plans to invest,” CBI director-general Carolyn Fairbairn said.
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.