Britain ‘teetering on edge of recession’ after economy shrinks amid Brexit uncertainty

Financial Markets Online > Financial Markets Online > Britain ‘teetering on edge of recession’ after economy shrinks amid Brexit uncertainty

Brexit turmoil has helped condemn Britain’s economy to its first quarterly slump in more than six years, official figures reveal today.

Output fell by 0.2 per cent between April and June, leaving the country “teetering on the edge of recession”, shocked City economists said.

The fall in GDP was far worse than forecast and sent the battered pound into yet another dive. By mid-morning sterling was down just over a third of a cent against the dollar at $1.2103.

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