British economic growth 'grinding to a halt' while DFS Furniture sees orders slowing

The grim outlook will add to fears that the UK is at risk of falling into recession as soaring prices eat into living standards for households

DFS shares fell at one stage by 16% in London trade, as shares of other UK homeware and DIY retailers also declined.

British economic growth is grinding to a halt as the cost of the living crisis escalates, a leading business lobby has warned, while UK furniture retailer DFS said orders are slowing.                   

The British Chambers of Commerce predicted output will be barely higher in the fourth quarter than it was at the end of 2021, with consumers and businesses set to rein in spending as taxes climb and inflation rises toward 10%.