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Project Fear is shown for what it was

By October 25, 2016February 18th, 2021No Comments

Now exports boom to a two-year high: Fall of Sterling has made the UK much more attractive to overseas buyers

Sterling’s fall from $1.50 to $1.22 has made UK goods more attractive

UK exports are now rising at their fastest rate in two-and-a-half years

Boost throws cold water on George Osborne’s claims before referendum

By JAMES DUNN FOR MAILONLINE

25 October 2016

British export growth has hit its highest level since early 2014 thanks to the pound’s post-Brexit-vote plunge.

Sterling’s fall from $1.50 to $1.22 against the dollar has made UK goods much more attractive to overseas buyers, says a CBI Industrial Trends Survey.

Exports are now rising at their fastest pace in two-and-a-half years.

Analysts from Capital Economics said: ‘The fall in the pound appears to be performing its role as a shock absorber by improving domestic competitiveness.’

This boost to business throws cold water on ex-Chancellor George Osborne’s doom-laden claims that a Brexit vote would ‘push our economy into a recession’.

Read more: http://www.dailymail.co.uk/news/article-3869064/Now-exports-boom-two-year-high-Fall-Sterling-UK-attractive-overseas-buyers.html#ixzz4O6SoLyTX