Britain’s decision to leave the EU has led to a “dramatic deterioration” in economic activity, not seen since the aftermath of the financial crisis.
Data from Markit’s Purchasing Managers’ Index- PMI, shows a fall to 47.7 in July, the lowest level since April in 2009.
Both manufacturing and service sectors saw a decline in output and orders.
However, exports picked up, driven by the weakening of the pound.
The report surveyed more than 650 services companies, from sectors including transport, business services, computing and restaurants.
Brexit Causes Dramatic Drop In UK Economy, Data Suggests
RELATED ARTICLES
Recent Comments
on ZICTA ON ICT
on ZICTA ON ICT