EURIS Brexit Watch - 2018 Issue 4

26 February 2018

The biweekly Brexit Watch report monitors the short-term UK macro economic indicators to assess the impact of the referendum vote and the subsequent triggering of Article 50 on UK economy. The report also monitors indicators in 4 manufacturing industries, namely, Electrical (SIC 27), Electronic (SIC 26), Mechanical (SIC 28) and Fabricated Metals (SIC 25).

The main points at the end of week 10 in 2018 are as follows:

  • Sterling recovered some of its early February losses to the US Dollar in 2018 week 8. The month-to-date average in February 2018 was 12.0% higher than a year earlier.
  • The second estimate of GDP growth in 2017 Q4 was revised down by 0.1% to 0.4%;
    equivalent to £492 billion and a growth of 1.4% compared to 2016 Q4.
  • Unemployment rate rose to 4.4% in the three months to December 2017 as the number
    unemployed increased by 46,000.
  • Consumer price index grew 3.0% in the twelve months to January 2018, unchanged
    from previous month.