Economists Markit write about the “dramatic deterioration” of the situation in the UK in the weeks after the decision to exit the country from the European Union. The decline in activity was in both the service sector and industry. The indicator for the private sector fell to 47.7 and is clearly below the limit of 50 separating growth from decline in activity.
– The July PMI certainly promises greater easing – said Samuel Tombs, an economist at Pantheon Macroeconomics in London. – We see a lot of different economic indicators falling to levels not recorded since the financial crisis. Although consumer sentiment may be good for a few months, business pressed on the brake in investments and it will hit the economy – he added.
The services sector, the largest economy, fell to 47.4.
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