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Views Article – Sharenet Wealth

Europe, Forex

UK’s Javid not expecting recession “at all” after GDP drops

LONDON, Aug 9 (Reuters) – Britain’s new finance minister, Sajid Javid, said he did not think Britain’s economy would fall into a full-blown recession, after official figures showed the economy contracted for the first time since 2012 during the three months to June.

“I’m not expecting a recession at all,” Javid told the BBC. “There is not a single leading forecaster out there that is expecting a recession.”

Javid said the figures “were not a surprise in any way” and represented volatility in the run-up to Brexit, which would be resolved by leaving the European Union on Oct. 31. (Reporting by David Milliken, editing by Andy Bruce)


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