Brexit may have little impact on US, experts say

YOUNGSTOWN

As analysts around the world unleashed apocalyptic predictions Friday after Great Britain’s unprecedented decision to leave the European Union, economists and finance experts close to the Mahoning Valley offered a more-optimistic outlook.

Fallout from “Brexit,” as the country’s exit from the EU by way of referendum has been dubbed, is not expected to significantly impact the U.S. or local economy, experts said.

“The impact will be small, but the risk is there,” said Mekael Teshome, PNC Bank economist. “U.S. exports to the United Kingdom are fairly small. ... So even if the UK were to have a recession – and we’re not forecasting this – it wouldn’t really affect the U.S. a whole lot.”

The same goes for Northeast Ohio and Western Pennsylvania, he said, but economists in this region will be closely monitoring interest rates and the value of the dollar.

Read more about the situation in Saturday's Vindicator or on Vindy.com.