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London And South East Economy Hit Hardest By Brexit

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http://www.telegraph.co.uk/business/2016/08/07/london-and-south-east-economy-hit-hardest-by-brexit/

Businesses in London and the South East have been hit hardest by the UK’s vote to leave the European Union, new figures show, as uncertainty in the manufacturing and service sectors hit demand and caused output to contract for the first time in three-and-a-half years.

According to the latest purchasing managers’ index (PMI) survey by Lloyds Banking Group, most UK regions saw a contraction in business activity in July, as cost pressures increased on the back of the weakening value of sterling.

The survey, which is based on the value of good and services on a month-by-month basis, found that business output in England dropped from 52.5 in June to 47.4 in July, its lowest since April 2009. A reading below 50 signifies contraction.

So the North which has been decimated by the policies of London had nothing to lose by voting out?

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http://www.telegraph.co.uk/business/2016/08/07/london-and-south-east-economy-hit-hardest-by-brexit/

So the North which has been decimated by the policies of London had nothing to lose by voting out?

You mean the East and the East Midlands (at least keeping their heads above water) ?

Everybody else screwed - but only if you think a couple of months proves anything whatsoever.

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At worst all Brexit has done is possibly bring forward what was already coming.

Pretty much why I voted Brexit. Although the #VileBBC have told everybody I know that it was because I'm an uneducated racist

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What has kept London afloat is the MASSIVE influx of foreigners, not just EU citizens (anecdotally seem to be the smallest number of incomers). So perhaps the fear is that this tide of new people maybe curtailed

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Businesses in London and the South East have been hit hardest by the UK’s vote to leave the European Union, new figures show, as uncertainty in the manufacturing and service sectors hit demand and caused output to contract for the first time in three-and-a-half years.

According to the latest purchasing managers’ index (PMI) survey by Lloyds Banking Group,..

According to Markit the UK Manufacturing PMI has contracted maybe 5 times in the last 3 1/2 years (back to the start of 2013) and has been trending downwards since about 2014.

http://www.tradingeconomics.com/united-kingdom/manufacturing-pmi

Presumably Lloyds isn't connected to Markit and they pick and choose which one gives the best reading according to the message they want to convey at any given time.

Markit is the index usually quoted. It was very popular in the media (yet again to the point of hyperbole) giving positive results just before the 2015 general election. Of course the readings dipped straightaway afterwards - so there's a case for saying that the general election result damaged the economy - although they never made that point.

Edited by billybong

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According to Markit the UK Manufacturing PMI has contracted maybe 5 times in the last 3 1/2 years (back to the start of 2013) and has been trending downwards since about 2014.

http://www.tradingeconomics.com/united-kingdom/manufacturing-pmi

Presumably Lloyds isn't connected to Markit and they pick and choose which one gives the best reading according to the message they want to convey at any given time.

Markit is the index usually quoted. It was very popular in the media (yet again to the point of hyperbole) giving positive results just before the 2015 general election. Of course the readings dipped straightaway afterwards - so there's a case for saying that the general election result damaged the economy - although they never made that point.

It is ridiculous that we are supposed to believe that the UK was doing OK before 23rd June, and since Brexit, it's going down the toilet.

Really.

Over 7 years of ZIRP before 23rd June.

A doubling of the national debt in 6 years before 23rd June.

Wages flat for years before 23rd June.

So people think more of the above would have been desireable?

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It is ridiculous that we are supposed to believe that the UK was doing OK before 23rd June, and since Brexit, it's going down the toilet.

Really.

Over 7 years of ZIRP before 23rd June.

A doubling of the national debt in 6 years before 23rd June.

Wages flat for years before 23rd June.

So people think more of the above would have been desireable?

To be honest, I think UK nationals should be net contributors during their working life.

Having people sat around their working lifes, pulling in 1-2k /month is insane.

Trying to patch the upcoming demographic timebomb - due in 5 years time - by bringing in a load of unemployable 3rd world scum is nuts.

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To be honest, I think UK nationals should be net contributors during their working life.

Having people sat around their working lifes, pulling in 1-2k /month is insane.

Trying to patch the upcoming demographic timebomb - due in 5 years time - by bringing in a load of unemployable 3rd world scum is nuts.

What demographic timebomb is that?

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What demographic timebomb is that?

The work-age population falls off a cliff in the UK.

Its quite remarkable. The size ofthe working age not working age rather than working, rises from the 50s.

Turns around in at quite rapid rate.

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The work-age population falls off a cliff in the UK.

Its quite remarkable. The size ofthe working age not working age rather than working, rises from the 50s.

Turns around in at quite rapid rate.

Have you got any reading material (links) that I can peruse? You have piqued my interest!

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Have you got any reading material (links) that I can peruse? You have piqued my interest!

Ill try and dig some out.

Buttonwood at TE is good on this.

UKGOV is not being honest about the headwinds the UK faces.

Also factor in that in 10 years time as well as the drop off in working age, you face pensioners retiring on DC pensions. You know, the ones that QE have trashed.

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Ill try and dig some out.

Buttonwood at TE is good on this.

UKGOV is not being honest about the headwinds the UK faces.

Also factor in that in 10 years time as well as the drop off in working age, you face pensioners retiring on DC pensions. You know, the ones that QE have trashed.

Thanks, also automation is going to absolutely obliterate jobs. Read Ray Kurzweil and the "Technological Singularity".

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