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    A man walks down a snow covered street in South London, Britain, February 28, 2018

    Wintry Forecasts: Beast From the East Chills UK Economy

    © REUTERS / Dylan Martinez
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    The wintry weather in Britain didn't just disrupt transport networks and gas supplies, the heavy snow had a chilling effect on the UK's economy.

    "Recent snow-related disruption was likely to have a measurable adverse effect on growth in the first quarter, although it was difficult to quantify the precise extent of this," the Bank of England has said.

    Economic forecasters have revised their estimate of headline GDP growth from 0.4 percent to 0.3 percent, "after incorporating an initial judgement on the impact of the snow-related news," the Bank's Monetary Policy Committee (MPC) said. 

    READ MORE: Perfect Storm Brewing in Britain as Temperatures Fall & Gas Supplies Run Low

    Clothes company Ted Baker has also issued a warning of tough months ahead after the weather and online grocery store Ocado has blamed the Beast from the East for knocking US% 2.1 million (£1.5 million) off its profits due to slower road speeds, fewer delivery slots and distribution sites cut off.

    Storm Trooper Trilogy

    However Britain hasn't seen the last of the so-called 'Beast from the East' with two more Arctic blasts predicted to hit the UK. Weather forecasters are predicting a 'white Easter' which means many people living in Britain are turning to social media to continue talking about their favourite topic, the British weather.

    READ MORE: Deep Freeze and Flooding Threat: Britain Endures Storm Emma Onslaught (PHOTOS)

    READ MORE: Snowmageddon in British Grocery Stores: Empty Shelves Overpriced Bread, Rations

    Related:

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    Some Don't Like it Cold: 'Beast From the East' Hits UK, Sets Twitter Afire
    Tags:
    freeze, ice, snow, weather, Great Britain, United Kingdom
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