HSBC 'Not Forecasting an Outright Recession' for U.K.
The U.K. economy may be heading for its first recession since 2009, with economists slashing their forecasts in the wake of the Brexit vote and now seeing two quarters of contraction this year. While the 0.1 percent decline in gross domestic product anticipated in each of the third and fourth quarters is modest, it will mark the end of more than three years of unbroken growth. The projections in the Bloomberg survey compare with a 0.6 percent expansion predicted for those periods before the June 23 referendum. HSBC European Economist Fabio Balboni discusses with Bloomberg's Manus Cranny on "The Pulse."