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Bank of England: "No agreement to leave the EU" will lead to a sharp drop in corporate output

Xinhua News Agency, London, December 4th A survey released by the Bank of England's Bank of England on the 4th shows that if the UK has no agreement to leave the EU next year, the output of British companies is expected to drop sharply.

The Bank of England's survey of 369 UK companies shows that if there is no agreement and no transition, the company's output will fall by 2.5% to 6.9% in the next 12 months, and the number of employees will decrease by 2.1% to 5.4%. In the case of an agreement and a transitional Brexit, corporate output may increase by 0.8% to 2.7%, and the number of employees will increase by 0.2% to 1%.

The Bank of England said that most UK companies have not yet made strategic adjustments to Brexit, and less than one-third of them have plans for this.

The Bank of England released a report last week, predicting that no agreement to leave the EU will result in a contraction of UK gross domestic product (GDP) of up to 8%, and the impact on the UK economy will be greater than the 2008 international financial crisis.

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