Swiss Economicblogs.org
And so it begins. Even before the Brexit vote, corporate profits in the U.K. were already under pressure from a combination of sluggish global growth and rising wages. But now, several weeks after referendum, business confidence in the U.K. is officially cratering. Credit Suisse’s Global Markets team expects corporate pessimism to ultimately translate into reduced investment and hiring, and the combination of rising unemployment and a weaker pound to squeeze household income. With uncertainty...
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