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The Guardian: there is no more panic in the British economy after Brexit

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The Guardian: there is no more panic in the British economy after Brexit

The Guardian: there is no more panic in the British economy after Brexit
August 24
09:00 2016

According to the Guardian publication, the United Kingdom economy is apparently recovering from the panic that was caused by the results of the referendum regarding the country’s membership in the EU (Brexit).

Many economic indicators suggest that the economic activity in the industry, trade and construction is growing.

According to the poll, which was conducted in the industrial sector, export has risen to its highest level over the last two years. The construction sector gives the evidence that the customers are interested in the opportunity to purchase the housing again. The sales figures in supermarkets have increased by 0.3% over the last three months.

According to the publication, at first the results of Brexit led to the fall of the pound sterling and the situation of uncertainty in the market, but soon the consumers adapted to the new realities.

The experts have already changed their pessimistic forecasts about the British economy in 2016-2017.

The Brexit supporters consider this fact as a proof that the predictions about the collapse of the country’s economy in case of the UK exit from the EU were aimed to mislead people.

However, Chris Williamson, the chief economist at HIS Markit believes that the revival of the economic activity in the UK is connected to the severe measures taken by the Bank of England and Ministry of Finance after the referendum.

The Governor of the Bank of England Mark Carney said in June that he was ready to take drastic measures in order to prevent the recession. BBC reported that in August the bank had reduced the interest rate and, in addition, the program of the quantitative easing had been expanded.

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