Uncertainty ‘a drag’ on UK economy

Uncertainty in the eurozone will continue for the next few years, acting as a drag on the UK economy, Bank of England policy maker Spencer Dale was quoted as saying yesterday.

Despite not being a member of the single currency bloc, Britain depends on the economic area for 40% of exports.

The British economy slipped back into recession in the first quarter of this year and data continues to show Britons have been shopping much less and factories are getting fewer orders.