With the vote on remaining in the EU looming recent figures on economic growth or the lack of it show that the UK faces an uncertain future.
Few people if anyone outside of economists and politicians are able to decide whether to vote in or out due to the confusing arguments for and against. This has hardly been helped by recent economic data coming out of the EU which shows that forecasts for growth have been smashed across the Eurozone with 0.6% recorded for the first quarter. The forecast was 0.4% at best.
Contrast this with the UK which saw growth slowing to 0.4% and there is obvious cause for concern. While the service sector continues to grow, there remains little help from other sections of the economy which points more towards a continuing imbalance rather than the latest slump having anything to do with a possible Brexit.
Economists too appear confused on why UK growth has slowed. Some argue that it is due to slowing global growth, yet with the Eurozone, One of the UK’s main markets for exports exceeding expectations on GDP, this doesn’t add up.
France, Spain and even Italy are reporting positive growth and falls in unemployment which may give anyone arguing the economic case for a Brexit pause for thought if the UK is to go it alone. Alternatively those who want to remain in the EU will be considering how little, talk of a Brexit has impacted on economic growth.