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UK PMI suggests short-run uncertainty effects severe

July 22, 2016 by andrew36 Leave a Comment

The PMI (purchasing manager index) is not an economic outcome, but a forward-looking indicator of economic sentiment. Still, today’s figures* from the UK and the Euro Area are the first indication that predictions that the June 23 Brexit outcome will have serious short-run costs for Britain, but not so much for the Euro Area, are likely to be borne out.

PMI UK 0716

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Filed Under: Commentary Tagged With: Brexit, Euro Area, GDP, Markit, PMI, recession, UK

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