Economic growth projected to slow to 4.6%

Economic growth will slow significantly to 4.6% this year as a host of external factors begin to turn against the economy.

The level of GDP growth predicted by business representative body Ibec remains strong at 4.6% but is someway short of the 7.8% increase seen over the course of 2015.

A range of factors, including a troubled global economy, the potential risk of the UK opting out of the EU, and an erosion of competitiveness, have contributed to the lowering of expectations after an exceptionally strong last 12 months.