The Impact Of "Off Europe" On The British Economy Is Beginning To Show Itself.

At the end of March, the United Kingdom launched the "off Europe" process. Although no substantial changes have taken place in the relationship with the European Union, the fundamentals of financial markets and economies have not been significantly affected. However, the latest data show that the real income of the British has shown the smallest increase in two years, almost falling into zero growth due to the rapid inflation and the depreciation of the pound.

The impact of "off Europe" on the British economy began to emerge.

According to the data released by the National Bureau of statistics in April 12th, the actual wage growth in the UK dropped to its lowest level since 2014 as of February this year, indicating that the momentum of sustained growth in income has been lost for two years.

Data show that the British weekly salary increased by 2.3% compared with the previous year, excluding inflation, it increased by only 0.2%.

David Freeman, Senior Statistician of the National Bureau of statistics, said higher inflation and slower income growth meant that the real income growth of the British had narrowed to near zero growth.

From the development trend, the growth rate of wage level is hard to catch up with the rising inflation rate, and the direct push of this rapid inflation is the referendum of "off Europe" in June last year.

2015, Britain

Close to zero.

But since the referendum of "off Europe" in mid 2016, inflation in Britain has increased rapidly.

According to the statistics released by the National Bureau of statistics in March 21st this year, consumer prices in the UK rose 2.3% in February compared with the 2% inflation target set by the central bank in the first three years.

The increase was the highest since September 2013 and exceeded economists' expectations.

Inflation, which has just been announced in March, has continued this trend, with inflation rate unchanged from February.

The National Bureau of Statistics says rising food and fuel prices are the main factors contributing to the inflation rate reaching a new high of nearly three and a half years.

Since the referendum of Britain's "off Europe" last year, the pound has depreciated by more than 15%, leading to higher import prices and higher overall prices.

Though from the second half of last year

After the release, the British Treasury and the central bank have said that "off Europe" has limited impact on the British economy, but also said that the "uncertainty" should not be ignored.

According to the data released by the National Bureau of statistics in March 31st, the GDP grew steadily in 2016, with a growth rate of 1.8%.

Among them, the fourth quarter grew by 0.7%, becoming the fastest growing quarter of the year.

Consumption is a major factor in supporting strong economic growth.

However, the data also showed that behind the vigorous domestic consumption, the savings rate fell from the lowest level since the 60s.

Net household loans rose to more than 11 billion in the fourth quarter of last year, the highest quarterly level in nearly thirty years.

The British think tank Financial Research Institute warned that Britons are facing low growth or even zero growth in wages over the past more than 10 years. It is predicted that by 2021, the income level of the British will be hard to exceed the level of 2008 and will fall into the worst income downturn since the great depression.

Analysts say that as prices rise and revenue growth slows, the UK is thriving.

It is hard to sustain.

The latest figures released by the British Retail Association show that in the first quarter of this year, British non food retail sales fell for the first time in nearly six years.

As the main driving force of the UK's economic growth, the reduction of real income will definitely affect the consumption capacity and further economic growth in the future.

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