Bank of England reconsiders gloomy Brexit forecast.

After reconsidering the Bank of England’s gloomy forecast for the aftermath of a vote for Brexit the Bank’s senior economist has now opined that the economy has held up better than predicted "almost as though the referendum had not taken place".  Even Mark Carney has said the scale of risks surrounding Brexit has gone down.  

As the New Year begins the UK is the world’s fifth largest economy, car sales are at an all-time high, the stock market is reaching record levels, the unemployment rate is the lowest since 2005, and the Government can afford to give away over £12 billion a year in foreign aid. 

Following the vote for Brexit, this country is once more able to steer an independent course and with the economy in such fine fettle a rosy future is on the horizon.

Update. January 15.

I submitted the post above as a letter to the Western Daily Press and am pleased to see it will be published on January 16 with the title “A rosy future after our Brexit vote”.
Since writing my original post I came across a Daily Telegraph article, “Five signs this week that the UK economy is thriving post Brexit”, by Sam Dean.  He mentions, as I did, the levels of the stock market and Mark Carney’s recent comments but, he also notes that industrial production rose by 2.1 per cent in November compared to October while consumer spending on debit and credit cards rose by 2.6 per cent last year.  As for housebuilding he reports that: Barrett’s profits are up and completions outside London are at their highest for nine years; Taylor Wimpey states that trading is “robust”; Persimmon’s revenue and sales have jumped. 

It seems there are even more reasons to be confident about our post Brexit economy.