Matthew A. Winkler, Columnist

Brexit Five Years After Referendum Shows No Gain, Just Pain

Strong gains in GDP are belied by deteriorating productivity, eroding global trade and a weakened currency.

Having second thoughts?

Photographer: Ben Stansall/AFP via Getty Images

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It's been five years since U.K. citizens voted to exit the European Union and almost 200 days since they belatedly departed. The decision looks to be working in the U.K.’s favor – at least on the surface.

The economy will grow 6.4% in 2021, second-best among the Group of Eight developed countries, followed by a G-8 leading 5.4% gain in 2022, according to the median estimate of 60 economists surveyed by Bloomberg. The iShares Core FTSE 100 UCITS ETF, the largest exchange-traded fund investing in the U.K., shows record appetite for British equity, with money flows surging 126% since 2016 to an all-time high, data compiled by Bloomberg show.