The UK’s economy escapes from Brexit bomb
The UK’s high streets are heaving with shoppers notwithstanding June's shock vote to abandon the European Union. Moreover, big businesses have already reported few signs of distress, while some tabloid newspapers are discussing a post-Brexit economic boom.
The overwhelming view from financial experts is that it’s too early to know how the United Kingdom will cope with years of Brexit uncertainty, though there’s a soaring belief that the country can avert a recession, which just weeks ago was regarded as probable.
On the face of it, the early upbeat mood contrasts with the pre-referendum warning from ex-Prime Minister David Cameron that Brexit would put a bomb under the British economy.
In August, retail sales reversed much of an immediate post-Brexit vote dip, with retailers posting their strongest sales for six months as industry data revealed on Thursday, mostly due to a weaker sterling attracting overseas buyers.