Article 1: Britain’s Brexit Crisis Takes Further Toll as Services Shrink
Brexit has negative implications on company and consumer spending. The move The Purchasing Managers’ Index illustrates that the economy had shrunk in March and had stalled throughout the first quarter, with the situation expected to worsen (Goodman and Meakin). The U.K economy also slowed down to 0.8%, which is weaker than the treasury of bank of England. The move has taken its toll on Britain to the point of Teresa May seeking assistance from the opposition leader. Correspondingly, Britain may not meet its deadline of April 12th given the disagreements in parliament.
The article is pessimistic although it portrays the reality of Brexit. The article focuses on the negative impact that the Brexit has on the economy, and how it is dividing parliament. The article seems to state that Brexit was terrible for the economy and that even the government is ill-prepared for the move. Regardless, it demonstrates the toll on household, and commercial level Brexit will impact the nation.
Article 2: Brexit is paralyzed and so is the UK economy
Brexit has crippled the economy. According to the Bank of England, the economy has shrunk more than 2% more than would have been the case had Britain remained in the EU. Put differently, Britain is losing $1 billion a week. Various sectors affected by Brexit include the property market (Kotassova). House prices fell by 3.8%, making it the lowest drop since 2009. By comparison, business investment declined by 0.9% in the last quarter of 2019. The auto industry also fell by 50%. There is also a present a decrease in the service sector which is responsible for 80% of the GDP.
The article is equally pessimistic but comprehensive. The text details the appalling effects of Brexit on the economy. The text details how the critical sectors like service, property market, manufacturing, and the automobile industry are affected and to what extent. Although there is no mention of hope in the near future, the paper effectively paints the grim reality that is Brexit.
Goodman, David and Lucy Meakin. Britain’s Brexit Crisis Takes Further Toll as Services Shrink. Bloomberg, 3 April 2019, https://www.bloomberg.com/news/articles/2019-04-03/minister-resigns-as-may-prepares-to-meet-corbyn-brexit-update
Kottasová, Ivana. Brexit is Paralyzed and so is the UK economy. CNN, 2 April 2019, https://edition.cnn.com/2019/04/02/economy/uk-economy-brexit/index.html