CBI cuts forecast for UK economic growth as Brexit concerns linger

Growth rate expected to slow amid uncertainty over single market and customs union

Britain's leading employers' organisation, the Confederation of British Industry, has warned the UK economy will shift down a gear this year and risks remaining in the slow lane because of Brexit.

Cutting its growth forecasts for the year, owing to heavy snowfall in the opening months of 2018 and lingering fears over Brexit, the CBI said it expected the growth rate for the British economy to slow to 1.4%, from 1.8% last year.