Coronavirus could spark UK economic growth downgrade

Stock market board

The coronavirus crisis could spark a downgrade of economic growth in the UK, the governor of the Bank of England has warned.

Mark Carney said the Bank had already seen a fall in activity across the country but admitted it was too early to tell how badly Britain will be impacted by the spread of the virus.

In an interview with Sky News, Carney said: “What we are picking up with some of our bigger companies and companies around the world is that supply chains are getting a little tight. That’s lower activity.

“There’s less tourism – as you can see on our streets here in the UK. That’s lower activity as well.”

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Six free articles a month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.