Eu Approaches: Spending Power and Brexit Vote

eu approaches: But worries are growing over prospects for 2017 as signs emerge that the Brexit vote's blow to the pound is stoking inflation and hitting people's spending power, according to The Guardian. As the starting date for negotiations over leaving the EU approaches, the pound has come under fresh pressure in recent weeks and been prone to further downward lurches with every political mention of Brexit most recently from Scotland's first minister Nicola Sturgeon raising the prospect of a new independence vote for Scotland. Buoyant consumer spending, a low unemployment rate, rising house prices and continued growth for the country's dominant services sector point to a strong finish to the year, defying earlier forecasts from the Bank of England and others that the economy would grind to a standstill. How has the Brexit vote affected the UK economy December verdict Read more To track the impact of the Brexit vote on a monthly basis, the Guardian has chosen eight economic indicators, along with the value of the pound and the performance of the FTSE. The dashboard for December shows a better than expected performance in four of the eight categories. Six months on from the vote to leave the EU, the latest batch of figures show wage growth remains solid, headline unemployment remains low, business activity continues to expand and house prices are still rising. Two were as expected, one was worse and inflation was higher than economists had forecast, fanning fears that household budgets will be squeezed by higher prices next year. (news.financializer.com). As reported in the news.