Britain's chaotic exit from the European Union has cost the economy about 6...
LONDON - Britain’s chaotic exit from the European Union has cost the economy about 600 million pounds per week since the 2016 referendum, Goldman Sachs said on Monday in a report that underscores how Brexit uncertainty has dented investment.
“The resulting uncertainty over the future political and economic relationship with the EU has had real costs for the UK economy, which have spilled over to other economies.” The bank’s estimates came as data showed factories in Britain stockpiled for Brexit at an explosive rate last month, unlike anything seen before in a major rich economy and a prelude to a likely sharp investment shortfall ahead.
European countries would be most exposed to this scenario, the economists estimated, and could see output losses of around 1 percent of real GDP.
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