Brexit causes dramatic drop in UK economy, data suggests. - Polidicks

[QUOTE]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 IHS Markit's Purchasing Managers' 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. The report surveyed more than 650 services companies, from sectors including transport, business services, computing and restaurants.[/quote] [url]http://www.bbc.co.uk/news/business-36864273[/url] but thank god we are independent!

Hilariously, we're not even [b]starting[/b] to become independent yet - because Article 50 hasn't been put into place. How much do you think it'll drop when it is?

Blech I'm having to keep an eye on the currency cause I'm going abroad for a while. What's the point in all this again? I've not heard a single positive thing since the vote in either the short or long term.

Don't you people read the Daily Express? It's "good news all round" [t]http://i.imgur.com/lAzrfoe.jpg[/t] [t]http://i.imgur.com/1xy1eUe.jpg[/t]

[QUOTE=smurfy;50754804]Don't you people read the Daily Express? It's "good news all round" [t]http://i.imgur.com/lAzrfoe.jpg[/t] [t]http://i.imgur.com/1xy1eUe.jpg[/t][/QUOTE] 'Best tips to stop agony of gardening back pain' Yeah you can see their target audience right there

[QUOTE=smurfy;50754804]Don't you people read the Daily Express? It's "good news all round" [t]http://i.imgur.com/lAzrfoe.jpg[/t] [t]http://i.imgur.com/1xy1eUe.jpg[/t][/QUOTE] I like that they're trying to say house prices increasing [I]even further[/I] could be a good thing. There hasn't been a worse time for young adults to try and get onto the property ladder. A bunch of £350,000 houses sitting about not being sold to anyone isn't going to help the economy.

the average down payment is estimated at around £119k for first time buyers. not even joking.

I'm convinced now that the Express is secretly owned by the UKIP party because they claimed some drivel about Ireland wanting our own EU vote. Literally only one party in the Republic supports it - a tiny one of independents who I see losing a hell of a lot of support once the full effects of Brexit are known. So, the Express can go back to the deluded and awful fantasies they live in.

[QUOTE=MissZoey;50754736][url]http://www.bbc.co.uk/news/business-36864273[/url] but thank god we are independent![/QUOTE] It's important to point out that this is a survey of [U]sentiment[/U] and not a survey of actual hard numbers. It does not show that Brexit has had a negative real impact on our economy. What it does show is a lower level of business confidence - something which [I]could[/I] have a negative effect on our economy. Just thought I'd point that out before people proclaim the end times are here.

[QUOTE=BlackMageMari;50754877]I'm convinced now that the Express is secretly owned by the UKIP party because they claimed some drivel about Ireland wanting our own EU vote. Literally only one party in the Republic supports it - a tiny one of independents who I see losing a hell of a lot of support once the full effects of Brexit are known. So, the Express can go back to the deluded and awful fantasies they live in.[/QUOTE] It is owned by a wealthy UKIP donor [url]http://www.bbc.co.uk/news/election-2015-32340976[/url]

[QUOTE=smurfy;50754921]It is owned by a wealthy UKIP donor [url]http://www.bbc.co.uk/news/election-2015-32340976[/url][/QUOTE] I'd be surprised but instead I think I'm just going to cry. May the heavens help you Brits.

[QUOTE=BlackMageMari;50754944]I'd be surprised but instead I think I'm just going to cry. May the heavens help you Brits.[/QUOTE] Too late, I think I'll be going abroad to escape, I've been pushed over the edge.

[QUOTE=Genericenemy;50755186]Too late, I think I'll be going abroad to escape, I've been pushed over the edge.[/QUOTE] estimated growth is still higher this year from the IMF than Germany, France and Italy last time I checked... nowhere is doing well at all, we just dragged ourselves down a bit.

As a Site Manager for a major house builder in the North London region (a FTSE 100 company with a market capitalisation of over £4bn) I struggle to understand how construction can drop so dramatically in a month being as sites are no different since Brexit. There has been a steady decline for a number of years anyway: [URL="http://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/22/12/pmis_all.jpg"]http://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/22/12/pmis_all.jpg[/URL]

[QUOTE=FlashMarsh;50755223]estimated growth is still higher this year from the IMF than Germany, France and Italy last time I checked... nowhere is doing well at all, we just dragged ourselves down a bit.[/QUOTE] Article 50 hasn't been triggered yet, when it does that is when I expect the shit to hit the fan. Its also not an economic one purely, its looking at various factors in my personal life over the last few years and in all honestly I've come to the conclusion at this point in time I can just walk away easily from it all and not suffer too greatly. Brexit is just the catalyst that has made me evaluate my place in the world and pushed me over into seriously considering doing my own "Genxit" if you can call it that.

Who would've thought? Nobody had foreseen this outcome!

GDP figures for Apr-Jun are coming out in a week apparently. Should be a right laugh

[QUOTE=smurfy;50755568]GDP figures for Apr-Jun are coming out in a week apparently. Should be a right laugh[/QUOTE] Remember the referendum was on the 23rd June so the impact of Brexit won't be reflected that much in the figures

[QUOTE=Mythman;50755585]Remember the referendum was on the 23rd June so the impact of Brexit won't be reflected that much in the figures[/QUOTE] Oh yeah I was thinking 23 May for some reason

Sure, the economy isn't going to be great. But that doesn't matter if you have skills. If you can't get a job, start a company. Let's keep corruption local where it can be seen and abandon the idea that we should be ruled by world government.

[QUOTE=ph:lxyz;50756689]Sure, the economy isn't going to be great. But that doesn't matter if you have skills. If you can't get a job, start a company. Let's keep corruption local where it can be seen and abandon the idea that we should be ruled by world government.[/QUOTE] Usually to start a company you need to borrow money. Have you tried borrowing money? Take it from someone who has a parent borrowing to expand his business: Even with £12 million revenue and a 35 year history in a stable industry (law), it is very, very hard to borrow anything.

[QUOTE=ph:lxyz;50756689]Sure, the economy isn't going to be great. But that doesn't matter if you have skills. If you can't get a job, start a company. Let's keep corruption local where it can be seen and abandon the idea that we should be ruled by world government.[/QUOTE] I'm sure nobody thought of that before, given how easy it is to [I]just[/I] start a company!

[QUOTE=ph:lxyz;50756689]Sure, the economy isn't going to be great. But that doesn't matter if you have skills. If you can't get a job, start a company. Let's keep corruption local where it can be seen and abandon the idea that we should be ruled by world government.[/QUOTE] Spoken like someone who has zero experience with business whatsoever.

[QUOTE=Headhumpy;50759238]Spoken like someone who has zero experience with business whatsoever.[/QUOTE] I find your comment entertaining. Also, SebiWarrior, I didn't say "just" start a company. Life is not easy. There are no shortcuts. [QUOTE=Zang-Pog] Do you really think you'll be able to see the corruption even if UK was to become completely independent? You wouldn't and even if you did, wouldn't you be more fucked in that case compared to when "you're being ruled by a world government" or whatever [/QUOTE] No. But at least you can still get a visa to somewhere else if it gets too bad. It's more difficult to kick out a global system than a national one when it starts to piss off its citizens.

World government isn't going to happen any time soon. I mean, fuck, Europe has enough trouble trying to unite and it's clear from Brexit itself that there's always gonna be people opposing closer integration. If a recently very peaceful place can't unite - how the hell is a world with at-least one major, international war per decade going to? You have nothing to fear from world governance.

[QUOTE=ph:lxyz;50756689]Sure, the economy isn't going to be great. But that doesn't matter if you have skills. If you can't get a job, start a company. Let's keep corruption local where it can be seen and abandon the idea that we should be ruled by world government.[/QUOTE] "the economy isn't going to be great so everyone will be worse off but that doesn't matter if YOU can survive"

The info I've seen suggests that not only have the markets rebounded since the drop immediately following the vote, but are doing better than before?

[QUOTE=Ridge;50763791]The info I've seen suggests that not only have the markets rebounded since the drop immediately following the vote, but are doing better than before?[/QUOTE] Stock markets have but they aren't indicative of anything really (I said this both when they dropped and recovered). Unemployment was still down (and many are claiming more job listings and so on). This is a business confidence indicator essentially but it tends to be very accurate, but I am expecting to drop to be nowhere near as bad as expected. Sterling is still down quite a lot, but is slowly strengthening.