According to Goldman Sachs, the UK's economy has significantly underperformed compared to other advanced economies since the 2016 EU referendum, characterized by lower growth and higher inflation. This assessment aligns with observations from The Economist, which highlights Britain's notably weak growth among rich countries and suggests that the case for cutting interest rates soon is stronger in the UK than in other major economies. The decision to leave the EU is pinpointed as the primary cause for the economic downturn, reducing growth and spurring higher inflation.
The UK’s decision to leave the EU shrank the British economy by reducing growth and spurring higher inflation, according to Goldman Sachs economists https://t.co/y6o3BpnkuL
The UK’s decision to leave the EU shrank the British economy by reducing growth and spurring higher inflation, according to Goldman Sachs economists https://t.co/paNmBAr0sX
The UK’s decision to leave the EU shrank the British economy by reducing growth and spurring higher inflation, according to Goldman Sachs economists https://t.co/g3zVasD2Lj
In the rich world, Britain stands out for problematically weak growth. The case for starting to cut interest rates soon, if not quite yet, looks stronger than in just about any other big rich economy https://t.co/hsirhYi1O9 👇
Great job, everyone | GOLDMAN SACHS: "The UK has significantly underperformed other advanced economies since the 2016 EU referendum, with lower growth and higher inflation." https://t.co/MQj0YWS5bH