LONDON, UK – As stated by the British Chambers of Commerce or BCC, firms are starting to put resources into contingency plans like stockpiling, which are not deemed as sustainable.
Instead, companies should invest in ways that promote economic growth.
The BCC's forecast this 2019 has a slight upgrade driven by the "quick" stock-piling done a few months earlier this year. However, this growth will be subdued in 2020 and 2021.
This year, the growth expectation is 1.3% from 1.2%. However, this will downgrade in 2020 from 1.3% to 1.0% and from 1.4% to 1.2% in 2021.
As stated by BCC, Brexit uncertainty will suffocate investment activities in the short term.