MORGAN STANLEY: Get used to a ‘new normal’ of weaker UK growth thanks to Brexit

london rainREUTERS/Kevin Coombs

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  • 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

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SEE ALSO: The UK government says Brexit will harm the economy. A lot of damage has already been done.

Post Author: martin

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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