Brexit was among the hottest topics on the table at the G20 meeting in China last week, and the looming uncertainty surrounding Britain’s decision to leave the U.K. won’t be letting up anytime soon.
In an interview with Sky News, U.K. chancellor Philip Hammond said since markets and businesses weren’t expecting the surprise exit, the resulting reactions haven’t been unfounded.
What’s more, because the process of Britain removing itself from the union will take time, the global economy won’t exactly be resting assured in the immediate future.
“There is going to be uncertainty about the outcome hanging over the world economic outlook for perhaps the next couple of years,” Hammond told Sky News.
And because businesses tend to hold off on decisions in periods of uncertainty and consumers delay big purchases, the economy likely will slow.
Read more at Sourcing Journal.