Market updates on July 16
Welcome to Tuesday!
Brexit won’t threaten UK economy any longer as global economy goes up
In 2018, the UK economy will most likely perform better than many estimates suggest and the benefits of global surge in the nearer future will easily compensate any hit from breaking up with the European Union. That’s what ex- Goldman Sachs market expert Jim O'Neill revealed.
O'Neill, an ex-Treasury minister who supported staying in the European Union before the 2016 referendum, informed BBC radio that Brexit turned to be a strange thing for Great Britain to impose on itself, although it wasn’t the country's biggest problem.
The UK economy, which is the world's number six one, seems set to have stepped down a bit last year when it probably tacked on approximately 1.8%.
Higher inflation provoked by the pound's dive after the Brexit vote has affected consumer spending power, while many businesses are wary about what Brexit actually means for them.
While surge has been less affected by Brexit than many financial experts predicted, the UK economy has surged more slowly than other wealthy countries.
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