Brexit Anniversary: Are We at Risk of Recession?

One year on from the Brexit vote, Rathbone's Ed Smith examines the three key areas that will be impacted by Brexit; trade, financial services and investment

External Writer 23 June, 2017 | 10:23AM
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Morningstar's "Perspectives" series features investment insights from third-party contributors. Here, Rathbones’ Asset Allocation Strategist, Ed Smith, reflects on one year since the outcome of the Brexit referendum and assesses the impact of the decision to leave the European Union on the UK economy.

This weekend marks one year since we learned the UK intended to leave the European Union. Although we correctly forecast the magnitude of the fall in the pound, we were wrong-footed by stronger household consumption – after the referendum households actually decreased their rate of savings and took out even more consumer credit.

We now see more risk of a disappointment than a pleasant surprise

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