2016-10-24 — gulfnews.com
London: The UK economy appears to be weathering Brexit better than many expected, but it's still heading for its weakest performance in a year. After a 0.7 per cent expansion in the second quarter, economists in a Bloomberg survey anticipate just 0.3 per cent in the three months since the vote to leave the EU. While that's far from the recession that some warned the referendum would trigger, it would still be just half the average quarterly pace over the past four years.
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"There is probably a reasonable chance still of another cut in interest rates over the coming months," said Ruth Gregory, an economist at Capital Economics in London. "Although we can take some comfort in the resilience of recent data, the economy is clearly not out of the woods yet."
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