Forecasts

To be fair trying to predict the future is fraught with difficulties. The Bank of England yesterday again  revised their prediction for the rate of growth in the UK economy. Not from a year ago but since only last November. In August they predicted the economy would grow by 0.8%, in November they increased their prediction to 1.4% now they believe the economy will grow by 2% next year. These are the experts. A change in the prediction of over 100 % in less than a year.  The reality is their guess is as good as yours.

Incidentally, I think we should all recognise that whilst we may be leaving the EU we are not suddenly going to become immune from downturns in the World economy. Just as in 2007/8 if all the World’s major economies move into recession we should not assume we will be exempt.

2 thoughts on “Forecasts

  1. I doubt anyone capable of displaying common sense would imagine we would be immune from economic downturns following Brexit We will be better off in different ways however. Please give the people some credit.

  2. I think the question is whether post Brexit we will prove to be more or less immune from buffeting by the global economic climate.

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