BoE’s Cunliffe Says No Strong Sense Of Contraction In UK Economy

www.oann.com | 11/16/2017 | Staff
tiffcourt011 (Posted by) Level 3
LONDON (Reuters) – There is not a strong sense that Britain’s economy is contracting, the Bank of England’s Deputy Governor Jon Cunliffe said on Tuesday.

In an interview with the Newcastle Journal, Cunliffe said a number of factors around Brexit deadlines – first in March, then April, and now October – had increased stockpiling and made it hard to analyze the state of the UK economy accurately.

Sense - Economy - People - Drops - Demand

“I haven’t picked up a strong sense that the economy is contracting and people are seeing big drops in demand,” he said.

He said it looked likely that Britain’s second quarter would be weak but attributed much of that to the unwinding of stocks.

Q1

“With Q1 and the second...
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