Too soon to blame Brexit for the slowdown in the pace of the UK’s recovery?

Pryce, Vicky (2021) Too soon to blame Brexit for the slowdown in the pace of the UK’s recovery? Birmingham City University, Centre for Brexit Studies Blog.

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Abstract

Is the economic slowdown that we are seeing after the initial bouncebackable a worrying sign for the UK economy? Growth slowed down to 0.8% in May from 2 % in April according to official ONS statistics, despite the easing of restrictions on the month. This was due mainly to shortages of inputs into the manufacturing sector affecting industrial production. This may have been a temporary effect. But the June output surveys also show that authoring the further opening up of the economy meant the overall picture remains a positive one, the pace of overall economy output growth also slowed with June composite PMIs below those in May. And footfall data and latest retail sales also indicate that recent exuberance when pubs opened up indoors too has faded away somewhat. The run up to the football Euro final has helped but these bounces are never sustainable. The further easing in mid July should help but the rises in Covid cases and the confusion that exists in relation to isolation and returns from overseas trips is still bedevilling the industry and could dent consumer confidence causing serious concerned about the sustainability of the economy particularly . And it is quite likely that post Brexit issues which have been a drag on growth for some time will eventually become more pronounced.

Item Type: Other
Dates:
DateEvent
9 July 2021Published Online
Uncontrolled Keywords: Centre for Brexit Studies, CBS, Brexit, BCU, EU, European Union, UK, Birmingham City University, UK Government, UK politics
Subjects: CAH15 - social sciences > CAH15-03 - politics > CAH15-03-01 - politics
Divisions: Research, Innovation, Enterprise and Professional Services > Centre for Brexit Studies
Depositing User: Alex De Ruyter
Date Deposited: 25 Feb 2022 16:56
Last Modified: 25 Feb 2022 16:56
URI: http://www.open-access.bcu.ac.uk/id/eprint/12876

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