Hangover post original exit date proves stronger than anticipated says Yael Selfin, Chief Economist at KPMG UK.
”The hangover that’s followed the UK’s original exit date is proving stronger than anticipated. Today’s figures signal the UK economy is likely to experience more subdued growth for the rest of the year, marred by Brexit uncertainty.
“The significant drop in car manufacturing, and in broader manufacturing activity at the start of Q2, point at more than just a reversal of the stock building effect seen as businesses prepared for an expected Brexit in March.
“While services saw a slight improvement in April, continued weakness of financial services and the hospitality sector do not bode well for the overall prospects for the economy this year”, says Yael Selfin.
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