The Brexit Effect Is Starting to Show

Aug 8, 2016 | 09:30 GMT
The Brexit Effect Is Starting to Show
In an attempt to stimulate the United Kingdom's economy, the Bank of England slashed interest rates from 0.5 percent to 0.25 percent on Aug. 4.

More than six weeks have passed since voters in the United Kingdom authorized the country's exit from the European Union, enough time for some of the referendum's economic effects to manifest. In the aftermath of the Brexit vote, the British economy has already started to show signs of weakness, with data for July signaling slowdowns in manufacturing, services and construction. In the eurozone, the economic impact has been moderate, but uncertainty about the split will probably reduce investment, private consumption and trade. In all likelihood, the United Kingdom's economy will decelerate even more in the months ahead....

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