Britain's economy is in serious danger of entering its first recession sinc...
LONDON - Britain’s economy is in serious danger of entering its first recession since the financial crisis as business confidence wilts in the Brexit crisis, a closely watched business survey showed on Wednesday.
Its headline reading fell to 50.6 from 51.4 in July — barely above the 50 barrier between growth and contraction. A Reuters poll of economists had pointed to a reading of 51.0. “After surveys indicated that both manufacturing and construction remained in deep downturns in August, the lack of any meaningful growth in the service sector raises the likelihood that the UK economy is slipping into recession,” IHS Markit chief business economist Chris Williamson said.
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