Saturday, 7 January 2017

Independent: Don't believe the right-wing media's claims that economists got it wrong on Brexit – the damage has been delayed, not avoided

Independent: Don't believe the right-wing media's claims that economists got it wrong on Brexit – the damage has been delayed, not avoided

by Ben Chu

"And are we really the “top economy”? The Office for Budget Responsibility expects full year growth for the UK in 2016 of 2.1 per cent. That would indeed be higher than the IMF’s forecast for the US (1.6 per cent), France (1.3 per cent) and Germany (1.7 per cent). Yet the Fund and other international forecasters such as the OECD expect all those economies to grow faster than the UK in 2017.

Despite the headlines, the consensus view of professional economists in both the public and private sector is that the UK will experience a serious growth slowdown next year, thanks to lower household consumption brought on by higher inflation and weaker business investment induced by uncertainty over our future trade prospects."

No comments:

Post a Comment