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Brexit

In Brief: Brexit

Thursday, 10 November 2016

Whether you supported remain or leave the European Union (EU), both campaigns could not have successfully describe the economic result that either vote would have brought. In the current moment economists still do know for sure what could happen. The delay on triggering Article 50 has meant that the next part of the process, which should take roughly 2 years, is equally delayed. Where can we find optimism? UK retail sales were higher in July than June, and the country saw an increase in demand for our manufacturing exports. Since the sharp fall in share prices the London stock market has performed strongly. However, at the current time the pound is weak, and the stock market is not the economy, and as a reaction the Banks of England have once again cut interest rates. We can but wait and see, what Brexit will truly mean for the British economy.

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