Standard & Poor’s warns country would be downgraded one notch on leaving, which could double if relations with Brussels sour
Britain’s credit rating could be cut by as much as two notches if it leaves the European Union, according to Standard & Poor’s, the only big ratings agency to still give Britain the top ranking.
A vote to quit the EU would be likely to result in a one-notch downgrade, which could be increased to two notches if relations between London and Brussels deteriorated significantly, the agency’s chief sovereign rating officer told Reuters in an interview.
Gross domestic product increases at 1.5% annual rate after expanding at 3.9% in second quarter, as businesses reduced restocking warehouses
US economic growth cooled in the third quarter despite a pick-up in consumer spending as a glut on inventory led to businesses cutting back on restocking warehouses.
Gross domestic product (GDP) – the broadest measure of economic health – increased at a 1.5% annual rate, a significant drop from the 3.9% annual growth of the second quarter, the Commerce Department said on Thursday. The main drag came from businesses stockpiling inventory, however, and economists expect growth to improve in the fourth quarter.
Related: Federal Reserve keeps interest rates unchanged but hints at December rise
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North Korea is quietly allowing important reforms to its command economy, but only
China seems to have noticed. That’s fine with booming Chinese border city Dandong.