Not all is as bad as it seems with the UK economy or the pound. A lower pound will be a boon to exporters. The International Monetary Fund recently upgraded its estimate for GDP growth in the UK this year to 1.8%, the highest among G7 economies.

Britain has been of the economic standouts since the 2008 crisis, bouncing back relatively quickly with 2.9% GDP growth in 2014 that was higher than 2.4% U.S. growth and more than three times the rate of euro-area growth. Manufacturing has recovered since showing signals of weakness in July, and September data on consumer confidence reached its highest point since 2014.

While the IMF lowered its 2017 forecast for the UK to 1.1%, another group of economists is projecting faster growth of 2.6% on effects of a weaker currency.