The economic legacy left by Theresa May includes a country transfixed by Brexit and treading water amid the uncertainty, with the escalating risk of a no-deal withdrawal sapping the economy, according to a Guardian analysis. Sterling has hit its lowest level in four months against the US dollar, at less than $1.27. However, business leaders warn that May’s refusal to remove the threat of a no-deal Brexit in less than six-months’ time leaves the country facing severe risks. In response to the threat of no-deal Brexit, and despite low levels of unemployment, wage growth has slowed. However, economists said growth was influenced by UK manufacturers rushing to stockpile goods before the original Brexit deadline on 29 March.

Source: The Guardian May 28, 2019 13:37 UTC