Brexit is potentially the most seismic change the British economy will have faced since World War II. Uncertainty over Brexit has hurt business investment and household spending has been hobbled by the rise in prices stoked by the lower pound. "We think the U.K. economy should be growing almost twice as fast," said James Smith, developed markets economist at ING. Higher inflation has made households poorer as wages haven not grown as much. The pound was the early lightning rod for Brexit concerns, sliding after the vote to 31-year lows against the dollar below $1.20.

Source: ABC News March 29, 2018 10:50 UTC