Data published this week indicates that the economy of the United Kingdom is slowing down and talk of stagnation is beginning to spread across the markets. Several different PMI reports published recently showed that the British economy grew at its weakest since 2012; it is beginning to show signs of wear and tear after three years of Brexit talk.
Although the United Kingdom demonstrated an impressive 0.5% GDP growth for the first quarter of 2019, it is expected that the second-quarter indicator will fall down to 0.2% - and this comes from the Bank of England, no less.
Businesses are suffering due to the lack of a clear-cut path for Brexit. The new extended deadline until October 31 is fast approaching and there is still no deal between the UK and the EU. Moreover, Prime Minister Theresa May is leaving her post at the end of this week, after seeing off Donald Trump. This means the UK might have to spend some of the precious little time left in their Brexit hourglass on a new general election in order to form a government. Although the most popular candidates for May's job so far seem to come from the Conservative Party, they did lose bitterly at the European parliamentary elections recently, so nothing is set in stone.
