Brexit hits real British economy

The IHS Markit's Purchasing Managers' Index published on the 22 July 2016 suggested that there was already a negative impact on the United Kingdom economy from the decision in the EU Referendum on the 23 June 2016 to leave the EU. Both manufacturing and service sectors saw a decline in output and orders, although exports were lifted by the weakening of the pound.

'July saw a dramatic deterioration in the economy, with business activity slumping at the fastest rate since the height of the global financial crisis in early-2009', said Chris Williamson, chief economist at Markit.

• Primary Source

BBC News, 22.07.16: Brexit causes dramatic drop in UK economy, data suggests http://www.bbc.co.uk/news/business-36864273

IHS Markit: News Release 22.07.16: Purchasing Managers’ Index: Markit Flash UK PMI - UK economy contracts at steepest pace since early-2009 https://www.markiteconomics.com/Survey/PressRelease.mvc/b68c3686a48c40198505b81e4e55cd81

EurActiv, 22.07.16: ‘Dramatic deterioration’ in UK economy since Brexit http://www.euractiv.com/section/uk-europe/news/dramatic-deterioration-in-uk-economy-since-brexit/

ESO: In Focus: Brexit - The United Kingdom and the European Union http://www.europeansources.info/record/brexit-the-united-kingdom-and-the-european-union/

ESO: Background information: Statement by the Chancellor following the EU referendum http://www.europeansources.info/record/speech-statement-by-the-chancellor-following-the-eu-referendum/

In Facts, 29.07.16: Don’t believe the hype about economic good news https://infacts.org/dont-believe-hype-economic-good-news/

In Facts, 22.07.16: Economy’s first Brexit bills fall due https://infacts.org/economys-first-brexit-bills-fall-due/

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