Brexit Vote More Than Triples Chance of U.K. Recession: Chart

El-Erian: Don't Think U.K. Will Avoid Recession

The Bank of England, the International Monetary Fund, the Organisation for Economic Cooperation and Development all agreed: a U.K. vote to leave the European Union would damage the economy. With the country now heading for Brexit, economists are almost universally cutting their projections. And, according to a Bloomberg survey conducted June 27-28, the chances of the U.K. entering a technical recession over the next 12 months have more that tripled since the referendum.

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