- Morgan Stanley says weaker growth looks set in for the long haul once the UK formally leaves the EU.
- The average quarterly growth rate since the third quarter of 2016 was about 0.4%, which looks set to continue until at least the fourth quarter of 2020, economists at the bank said.
- In the three years before the referendum, that rate was about 0.6%.
Brexit has been the key driver of UK economy, and lately it hasn’t been good.
Specifically, growth has been hit by weaker domestic demand, a trend that analysts at Morgan Stanley say looks set in for the long haul once the UK formally leaves the EU.See the rest of the story at Business Insider
- Brexit could see $ 911 billion of assets siphoned from the City of London to Frankfurt
- The UK economy could slump 8% into the worst recession since WWII after a no deal Brexit, Bank of England warns
- The UK government says Brexit will harm the economy. A lot of damage has already been done.