The economy is in a deep freeze in the wake of the EU referendum, and a recession could be on the horizon if the UK leaves.
The UK is one of the world’s most important exporters and one of its biggest trading partners, with $2.5tn of exports and $1tn of imports from the EU in 2016.
But the economy has slowed considerably in recent years, and the International Monetary Fund expects the UK’s economic growth to be about 1% this year, compared with a 1.5% average over the past 10 years.
It said a Brexit could lead to an economic slowdown of more than 3% in 2019 and a “very rapid fall” in UK growth from 2019.
A slowdown could also hit the UK manufacturing sector, which accounts for more than half of the economy.
The IMF has also warned that the UK could face “significant pressure” on its currency as a result of Brexit, and warned that “there is a high likelihood that sterling could fall further” if it did not get a deal in place.
There are also concerns about the UK financial system, which is widely seen as vulnerable to a downturn in the UK economy if Brexit goes ahead.
Inflation in the pound has also hit 1.8% since the EU-UK trade deal took effect, according to data from the Office for National Statistics.