UK business confidence dips as S&P sounds warning

The current political instability in Britain is likely to impact the country’s economic growth this year, said Standard & Poor’s chief economist for the European, Middle East and Africa.

“For the time being, the outlook remains negative,” S&P economist Jean-Michel Six told the AJEF association of financial journalists in Paris. “In terms of the outlook for growth, it’s clear that things are not going in the right direction.”

“This latest bit of instability can only weaken the business environment and consumer confidence.”