Hirunews Logo
Brexit+Plunges+UK+Economy+To+Worst+Level+Since+2009
Friday, 22 July 2016 - 17:20
Brexit Plunges UK Economy To Worst Level Since 2009
10

Shares
1,299

Views

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 Manager's Index, or PMI, shows a fall to 47.7 in July, the lowest level since April in 2009. A reading below 50 indicates contraction.

Both manufacturing and service sectors saw a decline in output and orders.

However, exports picked up, driven by the weakening of the pound.

Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE