One look at the British pound sterling this morning, which was down close to a cent and a half US at its low, and the question has to be what damning report was released on the UK economy and how related is it to Brexit?
Post Brexit PMI (purchasing managers’ index) numbers, which is one gauge of economic activity, just plunging and falling by the most in a month in its 20 year history of tracking the survey expenditure data of 1,250 major UK firms.
The reading is said to be equivalent to a 4/10’s of a per cent drop in GDP and opens up lingering questions of whether or when the UK will fall into recession.
This was certainly a fear for the UK and the Brexit vote as it took place.
Now seeing that as expect some level of stalling in business activity and per chance shifting elsewhere with heightened uncertainty around Britain’s economy.