U.K. Faces Short Recession as Brexit Hammers Spending, EY Says

  • Bank of England to cut interest rates to zero by year end
  • House prices to fall 4% in 2017 as consumer spending declines

EY Report Sees Recession on the U.K. Horizon

The U.K. will fall into a “short, shallow recession” around the turn of the year as Brexit hits house prices, jobs and spending, according to the EY Item Club.

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