Bashed by Brexit
Brexit has seen the UK slump to 13th spot in an international ranking of economic growth expectations. Britain places behind eight European countries in KPMG’s Growth Promise Indicator index which rates markets across variables such as macroeconomic stability, openness, human development, quality of infrastructure and quality of institution.
The UK does well in terms of human development and institutional quality, but its macroeconomic stability and openness have unsurprisingly taken a hit due to Brexit uncertainty.
The Netherlands ranks first, ahead of Switzerland, thanks to its strong and stable macroeconomic environment, as well as to good scores for infrastructure and institutional development.
“In the UK, the conversation is all Brexit,” says KPMG. “Decades-long European trade and political relationships are facing an uncertain future.”