With UK politics in disarray, there’s still a risk the country

  will leave the European Union without a transitional deal to protect trade. The Ba

nk of England has said the fallout from that scenario would be worse than the 2008 financial crisis.

  The big Brexit slowdown

  The United Kingdom was the fastest growing G7 economy when voters went to the polls in 2016. E

mergency action by the Bank of England helped the UK economy avoid the recession that some had

predicted would follow a vote in favor of Brexit, and unemployment remains very low.

  But the country still fell toward the bottom of the G7 rank

ing. Economic growth has slumped from an annual pace of around 2% to less than 1% now.

  Investment by UK companies stalled after the referendum and then plunged 3.7% in 2018. Me

anwhile, the rest of the G7 has seen business investment grow around 6% a year since the vote.

www.aishedesc.com

Tags: , , , , , , , , , , , , , , , , , , , , , , , , ,