The corporate logo of Morgan Stanley in San Diego, California. The revisions reflect a run of data that suggests the British economy is rebounding from the shock of June’s Brexit vote. Photo: ReutersLondon: Morgan Stanley followed Goldman Sachs Group Inc. in predicting the UK economy will prove stronger than economists anticipated in the immediate aftermath of the vote to leave the European Union (EU). Scrapping their previous forecast of a recession, Morgan Stanley said in a report on Tuesday they now expect the economy to grow 1.9% this year rather than 1.2%. “It is too early to conclude that the UK economy will prove resilient.” Bloomberg

Source: Mint September 06, 2016 14:15 UTC