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The price of Brexit has been €66 billion so far, plus an impending recession a?? and it hasn't even started yet

The price of Brexit has been €66 billion so far, plus an impending recession a??В and it hasn't even started yet
REUTERS/Simon Dawson



Brexit has cost the UK economy £66 billion ($86 billion) so far, according to S&P Global Ratings.




Brexit triggered a decline of the pound, an increase in inflation, the erosion of household spending power, a decline in house prices, and weak exports, S&P says.




The United Kingdom is now teetering at the brink of a new recession: Economic data published last week show UK GDP growth may have slipped to 0%.



The damage to the UK economy due to Brexit has cost £66 billion ($86 billion) so far, and left the United Kingdom teetering at the brink of a new recession, according to economic data published last week.
An analysis by S&P Global Ratings analyst Boris Glass found that the decline of the pound, increase in inflation, erosion of household spending power, decline in house prices, and weak exports led to a 3% reduction in GDP. "That translates into average forgone economic activity of £6.6 billion (in 2016 prices) in each of the 10 quarters since the referendum," Glass said in a research note.
The price of Brexit has been €66 billion so far, plus an impending recession a??В and it hasn't even started yet
S&P Global Ratings
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