U.K. Economic Confidence Drops to the Lowest Since 2016

(Bloomberg) -- Economic confidence in the U.K. fell sharply this month, according to a report from the European Commission.

The decline in the index to 105.3 from 109.5 in February was led by industry and services. The measure is now at the lowest since October 2016.

While numbers in the European Union also declined, the drop was far more pronounced in the U.K. The weakness came even after Britain and the EU this month reached a provisional deal on a post-Brexit transition period and inflation eased more than forecast.

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