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By WSJ City 

The collapse in UK business investment since the country's 2016 vote to leave the European Union highlights the potential costs to the global economy of a prolonged period of uncertainty about tariffs and other barriers to trade, Bank of England Governor Mark Carney said Tuesday in a speech.

KEY FACTS

--- UK business investment fell in 2018 at the fastest pace since the global financial crisis.

--- That's a reflection of the uncertainty among businesses about the country's future trade relationship with the EU.

--- Carney said the performance could serve as a leading indicator for the global economy

--- ......if outstanding disputes between the US and China, and between the US and the EU, aren't settled soon.

What Was Said

"A prolongation of global trade uncertainty could undermine the global expansion. Most fundamentally, the larger and the more permanent the disruption to global trade--the greater the deglobalisation--the greater the reduction in both activity and supply capacity of economies."

- Mark Carney, Governor, Bank of England

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(END) Dow Jones Newswires

February 12, 2019 10:30 ET (15:30 GMT)

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