After initial outlook was not positive for the U.K. economy after the Brexit, the IMF has recently changed their forecasting. Raising over 2% since the last review, the U.K. economy looks to expand on a steadily growing international market. The initial prediction was based on the difficulty of establishing their market after the brexit and set up connections with the European Union and trade partners. After a strong start out of the gate, professionals do fear that they may not be able to keep up with steady growth. All the IMF can do is make predictions on current numbers but with a positive outlook in the near future, the economy in the U.K. is looking up.
https://www.theguardian.com/business/2017/apr/18/imf-ratchets-up-uk-economic-growth-forecast-to-2
Well it is a good thing to know that someone is making a positive change on the economy. I also found that there is other locations that cite the same recovery.
ReplyDeletehttp://www.independent.co.uk/news/business/news/british-economy-continues-brexit-bounce-back-according-to-latest-jobs-and-housing-figures-a7232631.html
This is something that I knew little about and that was interesting to read. It is great to see that the U.K. economy is increasing despite leaving the EU. Consumers tend to spend less in times of economic uncertainty. Now that there is positive outlook on the country's growth, consumers may be likely to spend more money and invest in their country's economy. -Lorreen McCabe
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