Unchanged interest rates – but within the report low investment levels due to Brexit uncertainties must be a longer term drain on competitiveness.
Whilst Team UK is increasing spending on staff to support (albeit low) growth, our technology clients are increasingly focused on automation to ensure competitiveness for their clients in the global market place.
Investment by businesses fell in 2018, and has been soft since the EU referendum. Responses by businesses to surveys conducted by the Bank of England and other organisations suggest this is mainly because of uncertainty about Brexit. While businesses have been investing less, overall they have continued to hire people.