U.K. Spared Recession as Brexit Fears Hang Over Economy

(Bloomberg) --

The U.K. almost certainly avoided a recession ahead of the now-postponed Oct. 31 deadline to leave the European Union. The economy expanded 0.4% between July and September, thereby avoiding a second straight quarter of contraction, according to the median forecast in a Bloomberg survey. Brexit stockpiling has led to volatility in output this year but the underlying picture is one of an economy that has lost momentum amid the turmoil convulsing British politics.

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