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"Any views or opinions expressed in these blogs are solely those of the author and might not represent those of Access Credit Management Limited."

British Chambers of Commerce Lowers Economic Growth Predictions

New figures that have come out from the British Chambers of Commerce (BCC) look at the UK’s expected economic growth in 2020. Overall, they suggest that growth will be slower than they had originally forecast.

In fact, the 2020 growth prediction has been reduced from 1% down to 0.8%. At the same time, they also lowered their expectations for 2019 from 1.3% to 1.2%.

What Factors Have Caused This?

Is the US Heading for Negative Interest Rates?

The recent arrival of negative interest rates in Europe has caused a major stir in the financial world. At the time of writing, Denmark, Switzerland and Sweden have slipped into negative rates. Across in Asia, Japan’s figure is also below zero.

Could the US be the next country to introduce negative interest rates? The debate has recently opened up again after President Donald Trump tweeted that the “boneheads” at the Federal Reserve should be cutting rates.

What Did Trump Say?

The UK’s Economic Growth Lessens Recession Fears

Worries that the British economy may be heading into recession were reduced slightly in July. An unexpected degree of growth during the month was reported by the Office for National Statistics.

While this isn’t a sign that the troubled times are all over, it is an indicator that things might not be quite as bleak as had been widely predicted.

The Overall Results and Their Importance

The UK’s economy grew by 0.3% in July. This was largely down to the strength of the country’s services sector. However, a small amount of growth was also seen elsewhere.

Britain’s Factory Output Drops Again

Recent figures show that the UK’s factory output has dropped again. This worrying trend suggests that the country’s manufacturing industry is now in recession, according to some sources.

A look across Europe shows that several other countries reported similar drops. What are the reasons behind this and what does it all mean?

What Do the Figures Show?

Will the UK Pay £39 Billion to Leave the EU?

The long-running issue of how and when the UK leaves the European Union will soon be resolved. With the deadline of the 31st of October looming, there are still a number of matters to be concluded.

High on this list is the question of whether or not the country will need to pay the £39 billion that has been mentioned in the past. Right now, there is a difference of opinion between the British leader and the EU about whether this is due to be paid or not.

What Is This Bill?

Is the US Trade War with China Close to Ending?

The long-running trade war between the US and China has been blamed as being one of the key factors in the recent economic slowdown. However, hopes have been raised recently that the end of the dispute may be in sight.

The Background

With both of these countries aiming to be the world’s leading economic power, they have got caught up in a series of measures aimed to damage the other. Increasing tariffs, trade barriers and other issues that hurt the economy have been going on since 2018.