We were wrong on Brexit, admit top economists as they more than triple their growth forecasts for the UK
Leading economists have more than tripled their growth forecasts for the UK this year in a stunning admission they were wildly wrong about the impact of Brexit.
The average forecast for growth in 2017 was slashed to just 0.5 per cent in July but that has now been raised to 1.6 per cent by the economists monitored by the Treasury.
Bankers Nomura predicted a 1.3 per cent slump in output this year but now expects 1.8 per cent growth.
The Bank of England thinks output in the UK will rise by 2 per cent – six months ago it forecast 0.8 per cent growth.
Leading Brexit campaigner John Longworth said the revisions recognised Britain was on the way to ‘a bright post-Brexit future’.
February 16th, 2017: This is Money