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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. Link.
Important to note that recession was widely predicted after Brexit result but that a recovery would also come along soon after.
Trouble is, there's no guarantee yet and Theresa May has been told by Hollande that there will be no cherrypicking and no special deal. Even the Luxembourg minister said this today despite saying Luxembourg would wish to continue business with the UK and asks for a "smart divorce."
Question is, what form of Brexit should we chase and why? One commentator in the Telegraph suggests a Singapore model although this would also entail huge costs by "wiping out great tracts of manufacturing and agricultural industry before the new" industries got going.
Thoughts?
We have noticed a reduction in demand for houses here in Spain out of the UK and surprisingly an increase in the number of houses being sold by British owners. It should be in the German export numbers next month and the month after, if the index is down in the UK.
But there is no reason to activate article 50 for some time. Exports to third countries will pick up and no bank is going to up and leave until they know that the UK will really leave. That would be too costly and the personnel is not available in any one city around the continent. I thought it silly not to maintain the presidency in 2017, as the optimal strategy is sitting it out and being a rude reminder to the populations of the losses they have encountered by the EU and Euro. The fact that the EU has to change in a serious way is evident, if other countries do not want to be faced by new popular forces gaining traction across the continent and reshuffling domestic power. It is going to have to come and everyone knows that. So it would be crazy for the UK to exit before this has happened. Whether they then stay in or leave the British cannot afford to let the power shift towards the Eu lobby and eurocrats during this process.
~ I say push the ****ing button NOW or don't do it at all and, where have all these conviction politics Tories disappeared to? If they really believed it, why aren't they pushing it?
~ Apologies to the thread, I had to get that out.
~ surprisingly an increase in the number of houses being sold by British owners ~
The Conservatives should be so lucky; If they don't push the button the party will split, it's as simple as that and it will be party and power before country just as it was for the referendum.
I voted remain and, I say push the ****ing button NOW or don't do it at all and, where have all these conviction politics Tories disappeared to? If they really believed it, why aren't they pushing it?
Apologies to the thread, I had to get that out.
The Conservatives should be so lucky; If they don't push the button the party will split, it's as simple as that and it will be party and power before country just as it was for the referendum.
I voted remain and, I say push the ****ing button NOW or don't do it at all and, where have all these conviction politics Tories disappeared to? If they really believed it, why aren't they pushing it?
Apologies to the thread, I had to get that out.
~ just let it sit for 5 or 10 years ~
Industry just wouldn't let that happen.
Gaw that would be a nightmare for industry in the UK.
Industry just wouldn't let that happen.
Can you imagine the pressure on the conservative party? The membership are Brexit but the ones who donate the funds won't be. They just want certainty.
You mean more pounds? :2razz:~......................I think a lot of second home owners wanted Brexit and suddenly realised they are going to lose out. It's also a time where the falling pound means they can get more money for their euro sales.
You mean more pounds? :2razz:
What membership? ~
~ Politically it is suicide to press the button.
Bah, that's for sissies. REAL men use hammer and chisel.Tiredness is my excuse... been using one of these beasts all week to remove tiles and tile adhesive off floors.
My arms and mind were a bit like jelly Thursday onwards. I've realised why you only ever see 18 / 19 yr olds doing this job professionally.......................~
Bah, that's for sissies. REAL men use hammer and chisel ~
Changed to the SDS after I noticed a river of blood running down my forearm on Monday after a piece of ceramic tile caught me when I was using the hammer and chisel.. Had thick leather gloves on but the shard shot up my sleeve and I didn't notice till I saw blood on the floor.
Most advice has been just to tile over tiles but the kitchen layout was changed so that wouldn't have worked.
That only works to a point. When the kitchen's down to six foot square then a plan "b" is necessary!
It also appears that the pensions are taking a battering. Old people were the biggest supporters of Brexit - and its cost their pensions £115bn
"The UK pension deficit hit a record level of £935 billion following UK’s vote to leave the EU, likely hitting pro-Brexit voters the hardest. Support for the UK to leave the EU"
Brexit supporters hit with record £935bn pension deficit because of the EU referendum | Business News | News | The Independent
Latest figures for the UK's Q2 GDP shows growth of 0.6 % ,higher than B of E predictions of 0.5%. The UK economy looked fairly healthy in the second quarter compared to their friend's in Europe.
Obviously Q2 was post Brexit, so it'll be interesting to see how the Q3 figures will look.
I think you mean pre-Brexit. Q2 would have ended with the referendum.
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