Britain Is Being Outperformed by Its Trading Partners: Chart

(Bloomberg) -- For the first time in years, the U.K. is being outperformed by its trading partners as the impact of the decision to leave the European Union bites. Still, Bloomberg Economics expects the more favorable global backdrop to help offset some domestic weakness with net trade seen accounting for a third of overall growth, as it did in 2017. Beyond 2018, the boost from stronger global growth is likely to fade as many of Britain’s trading partners -- particularly in the euro area -- experience a slowdown as they reach the end of their cyclical recoveries.

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