Brexit Impact Affects UK Economic Performance

The spectre of a disorderly Brexit is holding back the British economy from a full recovery after a heavy snowfall earlier this year, according to a Guardian analysis of economic developments over the past month.

Having been blown badly off-course by the “beast from the east” cold snap, the UK has only managed a muted rebound, raising fresh questions over the strength of the economy as the Brexit date draws nearer. The pound plummeted to the lowest levels this year after the Bank of England was forced to delay raising interest rates after weak economic data.

While there are some positive signs such as a rebound in consumer spending, economists argue the UK would have performed better if it were not for the lingering effects of the referendum vote. Heavy snowfall hit large parts of western Europe, including France, Belgium and the Netherlands, yet the UK was the worst performer in the first three months of 2018, recording the weakest quarter for five years.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza