KPMG forecasts no-deal Brexit recession in 2020

Author: Eamonn Sheridan | Category: News

If Boris Johnson succeeds in ripping the UK out of the EU with no deal it'll prompt the first UK recession in a decade.

So says KPMG:
  • knock-on effects to trade and business confidence of a no-deal Brexit would lead to the economy shrinking by 1.5% next year
  • Consumer spending would also be severely dented
  • "With the Brexit debate poised on a knife-edge, the UK economy is now at a crossroads. It is difficult to think of another time when the UK has been on the verge of two economic out-turns that are so different, but the impact of a no-deal Brexit should not be underestimated,"
  • "Despite headwinds such as the slowing global economy and limited domestic capacity, the UK economy now has the potential to strengthen over the next 12 months. But a no-deal Brexit could put paid to this upside, triggering the UK's first recession for a decade."


This would create many trading opportunities of course but for the people in the UK its sad indeed. 

If Boris Johnson succeeds in ripping the UK out of the EU with no deal it'll prompt the first UK recession in a decade.

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