Asos shock shows UK's economic problems extend beyond high street

Amid Brexit uncertainty, online retailers are posting losses as well as Next, M&S and Dunelm

Fresh fears are emerging that the British economy is beginning to wilt under Brexit uncertainty after the fashion retailer Asos issued a shock profit warning, causing a plunge in retail shares in the City.

The internet shopping firm warned that UK sales growth would fall short of expectations, raising concerns that consumers are reining in spending against a backdrop of parliamentary deadlock and Bank of England warnings over the economic consequences of a hard Brexit.

High street footfall is expected to fall by about 3% this week as shoppers curtail their spending

Forecasts from surveyors that UK house prices will stagnate in 2019

A prediction from a leading business group that business will barely grow next year, following a steep drop in 2018, as companies put spending plans on hold in light of the political impasse.