Recovery 'too reliant on consumer debt' as BCC downgrades forecast

Economic growth for year forecast to be 2.4%, down from 2.6% estimate, with lack of exports and investment cited by experts

Britain's economic recovery remains too reliant on debt-fuelled consumer spending, a leading UK business organisation has warned, as it downgraded its growth forecasts in the face of a manufacturing slowdown.

The British Chambers of Commerce (BCC) said on Wednesday that it expected economic growth for this year to be 2.4%, down from the 2.6% it was expecting three months ago; and for 2016 its forecast has been revised to 2.5%, down from 2.7%.

Related: Consumer spending rise troubles Bank of England