Bank of England sees slower investment in 2019 and 2020

A man wears a bowler hat outside the Bank of England in the City of London
A man wears a bowler hat outside the Bank of England in the City of London, Britain, November 2, 2017. REUTERS/Toby Melville

November 8, 2017

LONDON (Reuters) – British companies are likely to keep on increasing investment at a modest pace over the next year before weaker increases over the following two years, the Bank of England said in a report on Wednesday.

“Economic uncertainty was the biggest drag on investment plans,” the BoE said, citing a survey of 375 firms.

“Expectations about future trading arrangements and other factors related to the United Kingdom’s decision to leave the European Union, such as concerns around the future availability of overseas labor, were also reported to be restraining investment,” it said.

(Writing by William Schomberg. Editing by Andrew MacAskill)