The UK will ESCAPE a post-Brexit recession, says the WTO
The WTO said Britain’s vote to leave the European Union will not see it succumb to an “outright recession”, although economic growth could slow down next year.
“The UK referendum result did not produce an immediately observable downturn in economic activity as measured by industrial production or employment,” it said.
“The main impact was a 13 per cent drop in the exchange rate of the pound against the US dollar and an 11 per cent decline in its value against the euro. Effects over the longer term remain to be seen.
“Our forecast assumes a growth slowdown next year, but not an outright... read more
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