According to the latest “prospect for the UK economy”, NIESR said there is around a one-in-four chance that the country is already in a “technical recession”. The outlook beyond the October 31 Brexit date is “very murky indeed” with possibility of a “severe downturn” in case of a disorderly no-deal Brexit.

The think thank also assign a 40% chance of no-deal Brexit, versus 60% for deal/delay. Even if a no-deal Brexit is avoided, the economy is forecast to growth at around only 1% in 2019 and 2020, as “uncertainty continues to hold back investment and productivity growth remains weak”.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.