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
