World Economy

UK Economy Slumping

UK Economy SlumpingUK Economy Slumping

The UK economy appears to be weathering Brexit better than many expected, but it’s still heading for its weakest performance in a year. After a 0.7% expansion in the second quarter, economists in a Bloomberg survey anticipate just 0.3% in the three months since the vote to leave the EU. While that’s far from the recession that some warned the referendum would trigger, it would still be just half the average quarterly pace over the past four years. Surveys and data on consumer confidence and services, the biggest part of the economy, have held up after an initial post-vote dip. The uncertainty about any new EU trading relationship may weaken business investment.


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