Saturday September 26, 2020

Report indicates British economy shrank in July

Think-tank sees 50-50 chance of recession this year after Brexit

9th August, 2016
Report says British economy shrank after Brexit vote

The British economy shrank in the month after Britain voted to leave the European Union, according to the National Institute of Economic and Social Research.

Growth probably slowed to 0.3 per cent in the three months to the end of July from 0.6 per cent in the second quarter, the London-based think tank said in a statement this afternoon. That suggests gross domestic product contracted 0.2 per cent in July alone.

The forecast indicates a “marked economic slowdown,”...

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