LONDON (Reuters) - Britain’s new finance minister, Sajid Javid, said he did not think Britain’s economy would fall into a full-blown recession, after official figures showed the economy contracted for the first time since 2012 during the three months to June.
“I’m not expecting a recession at all,” Javid told the BBC. “There is not a single leading forecaster out there that is expecting a recession.”
Javid said the figures “were not a surprise in any way” and represented volatility in the run-up to Brexit, which would be resolved by leaving the European Union on Oct. 31.
Reporting by David Milliken, editing by Andy Bruce