The Confederation of British Industry (CBI) has outlined the possibility of a gradual improvement in the UK economy. However, in their report, the CBI point out that this will only happen in the event that the country agrees to a suitable post-Brexit trade deal that aligns with the current EU rules.
What Do They Forecast?
An announcement by Japanese Prime Minister Shinzo Abe revealed a massive fiscal spending package that is designed to boost the national economy.
Abe revealed that the package will be worth around 13 trillion yen, which is about £90 billion. This amount is to include an additional budget for this financial year, as well as extra spending that is set aside for 2020.
According to reports, the overall amount will be even higher when the likes of private sector spending is added in. This could take it up to 25 million yen (£175 billion).
The latest figures to be released by the Office for National Statistics (ONS) show that the British economy stagnated during the month of October. In fact, if we take into account the last three months, we can see that the economy has just gone through its worst spell in over ten years.
The Overall Situation
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