It has proved difficult to replace the “infamous” Irish border backstop. It is still unclear if the PM has enough time and creativity to secure a deal before the mid-October deadline. After a historical ruling by the WTO the US has announced import tariffs on $7.5 billion of imports from the EU, effective October 18th.
Last week’s snow induced disruption will have heaped pressure on sectors like retail, leisure and construction. Firms will have to fight hard amid cancellations to manage cash flow and clear backlogs. It might even knock a tenth of a percent or two off Q1 GDP growth. But it is consumers’ attitudes to borrowing which is raising bigger questions for the health of the economy.