Barclays still see UK Q3 GDP lower despite resilient pre-Brexit Q2

Barclays out with a client note after the UK Q2 GDP data earlier 26 Aug 2016
Courtesy of our good friends at
Say Barclays:
"Looking ahead, we expect the UK economy to contract from Q3 16 on an initial referendum shell-shock from the ‘leave’ outcome. In our view, this will be driven first and foremost by firms, as they freeze spending, pull back on investment projects and put an end to hiring.