UK economy leans on consumers as Brexit drags on business

London rain

Moving slowly in the fog of Brexit and slowing global growth, Britain’s economy is increasingly reliant on consumers and their spending as business investment and exports fade.

The world’s fifth-biggest economy grew 1.4 percent in 2018, the weakest increase in six years, and it looks set to slow further in 2019.

On Wednesday, the European Union delayed Britain’s departure from the bloc until the end of October, but scepticism runs high that lawmakers in London can form a consensus over Brexit.