Pantheon Macroeconomics - The improvement in the August services PMI has generated hyperbolic headlines suggesting the U.K. is on a tear despite the Brexit vote. Taken literally, however, the PMIs suggest that the revival in business activity in August only partially reversed July's decline. Meanwhile, the impact of sterling's sharp depreciation on the purchasing power of firms and consumers has only just begun to be felt.

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6 September. 2016 Too Soon to Breathe a Sigh of Relief on Recession Risk

By Samuel Tombs

The improvement in the August services PMI has generated hyperbolic headlines suggesting the U.K. is on a tear despite the Brexit vote. Taken literally, however, the PMIs suggest that the revival in business activity in August only partially reversed July's decline. Meanwhile, the impact of sterling's sharp depreciation on the purchasing power of firms and consumers has only just begun to be felt.

Posted: 5th Sep 2016 in 'UK Documents'

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Keywords for: UK Documents | 6 September. 2016 Too Soon to Breathe a Sigh of Relief on Recession Risk

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