Mark Fields: the Ford boss urged Britain and the EU to strike a trade deal

Britain’s economy should weather the Brexit process, in large part because Europe is booming, according to an influential forecaster.

Exporters have been able to enjoy the benefits of a weaker pound thanks to resurgent demand from across the Channel, said Peter Spencer, chief economic adviser to the EY Item Club.

“With unfettered access to the single market for now and a weaker pound, exporters are enjoying the best of both worlds,” said Spencer.

“The world economy is firing on all cylinders at the moment and the remarkably strong eurozone is a big part of that. It’s nothing like the last time we had a big devaluation, in 2008.”

The sterling crash after the financial crisis did little to boost British exports, partly because our biggest