Thursday, 7 March 2019

Nobody move or the global economy gets hurt!

From City AM:

Global growth predictions were slashed today as a major economic body warned that a no-deal Brexit would see Britain return to recession...

The economy could contract by two per cent, plunging the country into recession, if Britain quits the EU without a deal and crashes out on World Trade Organisation (WTO) rules, the OECD also warned.

Such an outcome, according to the report, “would add to the adverse effects on GDP and business investment already seen relative to expectations prior to the vote in 2016”.

The OECD cautioned that the effects of no-deal "could be stronger still if a lack of adequate border infrastructure and a loss of access to EU trade arrangements with third countries were to cause serious bottlenecks in integrated cross-border supply chains”.

Woulda coulda shoulda.


Lola said...

OECD. Not again. Punk Keynesian claptrappery specialists. Grone.