Economics
British Economy’s Last Hurrah Awaited Before Brexit Growth Shock
- Growth of 0.5% estimated for quarter before EU referendum
- Economists forecast mild recession starting this quarter
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The British economy appears to have had a last hurrah before Brexit.
Growth accelerated to 0.5 percent in the second quarter, according to a Bloomberg survey, a pickup that’s likely to be reversed after the country voted to quit the European Union last month. Economists see the three months through June marking the end of more than three years of unbroken expansion, and have penciled in contractions of 0.1 percent this quarter and next.