| Both can cause unexpected shrinkage. For the first time in seven years, the U.K. economy contracted last quarter—an intense side effect of Brexit that took investors by surprise Friday and sent the pound to multiyear lows. Run the British numbers: The U.K. Office for National Statistics said GDP was 0.2% smaller in Q2 than it was during the first three months of the year. That led to an annualized decline of 0.8%, made all the more dramatic considering the 2% increase the U.K. experienced in Q1. What’s souring the economic clotted cream? Turns out extracting the world’s fifth largest economy from the EU takes a toll. New Prime Minister Boris Johnson intends to withdraw Britain from the bloc on Oct. 31, regardless of whether lawmakers have agreed to a divorce deal. Brussels has said that the deal Johnson’s predecessor, Theresa May, made (the same one Parliament thrice rejected) isn’t up for negotiation. That’s raised the prospects of a no-deal Brexit, which some say could disrupt trade, hamstring employment and business investment, push down the pound, increase inflation, and stir unwelcome memories for the Duchess of Sussex, a former briefcase girl on Deal or No Deal. But keep in mind… The U.K. doesn’t expect to fall into a recession (aka two consecutive quarters of economic shrinkage). Part of Q2’s contraction came c/o an earlier rush to stockpile products. The original March 29 Brexit deadline had British business in overdrive during Q1, but when that due date got pushed, companies quit the hoarding. The resulting slowdown hampered production and inventory stats last quarter, though household spending and the services sector stayed solid. Looking ahead…the British economy is expected to expand during Q3. Businesses are again stockpiling what they’ll need in the event of that harrowing no-deal departure on Halloween. |
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Ten cuidado con los resultados con Serplab Roope, no son los más exactos, me temo. Aún así, es genial escuchar que has tomado la educación en el WA y que estás disfrutando del paseo… te veo en el interior 🙂
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