Traders at a stock brokerage firm in London. Reuters
Britain said it is ramping up preparations for a no-deal Brexit by spending an extra 2.1 billion pounds ($2.6 billion) to stockpile medicines, hire more border officials and fund one of the biggest peacetime advertising campaigns.
World stocks touched record highs on Friday, as trading wound down before the year-end holidays, while the British pound was heading towards its worst week for more than two years amid renewed worries over how Britain will leave the European Union.
Britain’s Brexit crisis tipped the country’s construction industry into its sharpest fall in a decade in June, a survey showed, in a stark sign of how quickly the world’s fifth-biggest economy is slowing.
European shares rose on Friday after upbeat industrial output data from Italy and France raised hopes of an economic recovery, even as a spike in coronavirus cases around the world kept gains in check.
As governments rushed out funding to prevent an economic collapse amid the coronavirus pandemic, global public debt swelled to the highest in history, but the IMF warned on Friday that cutting back too soon could undermine the recovery.
Construction Cost Index (CCI), remained unchanged in the first quarter of 2020 compared with the first quarter of 2019 with the index at 98.0 per cent in both corresponding quarters, according to official figures.