S&P says UK economy's rebound in August may be a mirage
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
LONDON (Reuters) - Ratings agency Standard & Poor's said on Monday that signs of a post-Brexit vote recovery in Britain's economy may prove to be a "mirage" as uncertainty about the country's relationship with the European Union weighs on business investment.
"While the news is encouraging, we believe it has no bearing on the cloudy longer-term outlook for the UK economy," Sophie Tahiri, an economist at S&P Global Ratings, said in a report.
British consumers have shown little sign of being hurt immediately by the June 23 referendum decision to leave the EU. Companies reported a slump in business in July before a bounceback in August.
(Reporting by William Schomberg, editing by David Milliken)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CBOE (CBOE) Announces New SPX Options Implied Volatility-Based Index: SMILE
- Airstrike in Afghanistan causes civilian casualties
- Ex-Miss Finland says Trump groped her
Create E-mail Alert Related CategoriesReuters
Related EntitiesStandard & Poor's
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!