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MORGAN STANLEY: Get used to a 'new normal' of weaker UK growth thanks to Brexit
10 days ago - By Business Insider
Morgan Stanley says weaker growth looks set in for the long haul once the UK formally leaves the EU.
The average quarterly growth rate since the third quarter of 2016 was about 0.4%, which looks set to continue until at least the fourth quarter of 2020, economists at the bank said.
In the three years before the referendum, that rate was about 0.6%.
Brexit has been the key driver of UK economy, and lately it hasn't been good.
Specifically, growth has been hit by weaker domestic demand, a trend that analysts at Morgan Stanley say looks set in for the long haul once the UK formally leaves the...
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