The manufacturing purchasing managers’ index (PMI) has fallen even more than predicted following the referendum results. The 4.2 drop in just over a month (from 52.4 in June to 48.2 in July) is the sharpest fall in the current economy since October 2012. A rating below 50 indicates an economic contraction with a large reflection on job losses.
On the other hand, export rose for the second consecutive month and new contracts from overseas have been agreed due to the pound being weaker.
Related: Outsourcing and bots post-Brexit
For weekly news updates, subscribe to our email newsletter.