What Brexit mistake?

Chris Dillow

Chris Dillow
What Brexit mistake?

It's being widely alleged that economists were wrong about Brexit. The Bank of England, Treasury and many independent forecasters had warned that a vote to leave the EU would put the UK on the brink of recession. But latest purchasing managers' surveys show that services sector growth is at a 17-month high and manufacturing growth at a 30-month high. Such figures, says Markit's Chris Williamson, are “consistent with the economy expanding by 0.5 per cent in the fourth quarter”. That's a tad below the long-term average, but better than economists had expected.

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