British accountants have the most pessimistic outlook in a decade

                                                                                    INQUIRY

      A survey released on Monday showed that British accountants' confidence in the economic outlook fell, the fastest decline since the peak of the financial crisis more than a decade ago, due to concerns about brexit and sluggish economic growth.
"The uncertainty of brexit and political instability have led to economic downturn and economic growth slowdown," said Michael izza, chief executive of the Institute of Chartered Accountants in England and Wales.
The trade friction between the US and China is also a factor, ICAEW said.
The telephone survey of 1000 accountants was conducted from July 22 to October 18, basically covering the period when Johnson succeeded Theresa May as British Prime Minister and sought to renegotiate a new exit agreement with the European Union.
Other corporate surveys are equally bleak. The CBI said last month that manufacturers had the most pessimistic outlook for their exports in a decade.
In addition, the forecasters of ey item club, a consultancy, cut the UK's economic growth forecast for next year from 1.5% to 1.0%, even though they assumed Johnson would be able to push for parliamentary approval of its brexit agreement by the January 31 deadline.


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