June 12, 2017 / 8:14 AM / a month ago

Political instability set to impact UK growth, says leading S&P economist

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PARIS (Reuters) - The current political instability in Britain is likely to impact the country's economic growth this year, said Standard & Poor's (S&P) chief economist for the European, Middle East and African (EMEA) regions.

"For the time being, the outlook remains negative," S&P economist Jean-Michel Six told the AJEF association of financial journalists in Paris. "In terms of the outlook for growth, it's clear that things are not going in the right direction."

"This latest bit of instability can only weaken the business environment and consumer confidence," added Six.

Last week's election in Britain produced a shock result, with Conservative Prime Minister Theresa May failing to win an outright majority.

Reporting by Michel Rose; Writing by Sudip Kar-Gupta; Editing by Andrew Callus

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