The Brexit economy shrank by 0.2% in Q2 2019 , performing worse than the predicted 0% , according to the Office for National Statistics . The figure prompted speculation of a recession, sparked by UK and the wider global slowdown. Sterling hit new two-year lows against the US dollar on Friday because of the shock, and economists’ attention is turning now to whether the UK is currently in recession. It followed earlier growth forecast warnings from Monetary Policy Committee the Bank of England's , while analysts anticipate a cut to interest rates before Q2 2019 .
The Brexit economy shrank by 0.2% in Q2 2019 , performing worse than the predicted 0% , according to the Office for National Statistics . The figure prompted speculation of a recession, sparked by UK and the wider global slowdown. It followed earlier growth forecast warnings from Monetary Policy Committee the Bank of England's , while analysts anticipate a cut to interest rates before Q2 2019 .