Bank of England Cunliffe says he has not picked up sense of contracting UK economy

LONDON: There is little sense that Britain's economy is contracting, the Bank of England's Deputy Governor Jon Cunliffe said on Tuesday.

"I haven't picked up a strong sense that the economy is contracting and people are seeing big drops in demand," Cunliffe said in an interview with the Newcastle Journal.

He said it looked likely that Britain's second quarter will be weak but attributed a lot of that to the unwinding of stockbuilding in the first quarter.