Don't Believe the Good Economic News About Brexit

Even if there's no recession, the damage will be heavy and long-lasting.

Be careful what you wish for.

Photographer: JUSTIN TALLIS/AFP/Getty Images

With the arrival of positive manufacturing and services reports from the U.K., it seems that the British economy is doing fine. There's dwindling talk of a recession caused by the vote the leave the European Union, and British politicians are wondering if a “hard Brexit” option –rapid withdrawal from Europe without a new trade agreement – might be feasible.

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