As UK Economy Posts Shocking Contraction, One Bank Raises Odds Of No-Deal Brexit To 50%

Blame it on stock rundowns tied to elevated inventories around the original Brexit deadline or cite whatever "one-off" factors you want to cite, but the bottom line is that the UK is now one more bad quarterly GDP print away from a technical recession. The economy contracted 0.2% in the second quarter, far worse than the flat-lining consensus was looking for, and below the worst estimate from more than three-dozen economists. Manufacturing contracted a grievous 2.3%, the worst showing since th

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2 thoughts on “As UK Economy Posts Shocking Contraction, One Bank Raises Odds Of No-Deal Brexit To 50%”

I like the fact that the BOE wants to raise rates. Rates need to come up, there is no reason to have negative and rates near zero in a strong economy, unless it is all lies and cover ups and the man behind the curtain is DEBT and if rates were to rise dozens of companies would be forced to file Chapter 11 and some Chapter 7?? I say let the chips fall where they may, there are plenty of people waiting to pick up whatever remains, but keeping rates low and negative will only lead to more pain and suffering. The piper has to get paid eventually…