The Institute of Chartered Accountants in England and Wales (ICAEW) said its business confidence index fell to -27.7 for the period June 24 to July 20, compared with -0.7 from April 27 through to the June 23 referendum (HERE). The Markit Purchasing Manager's Index for July actually fell to 48.2 rather than the 49.0 initially reported, so worse than thought.
And the CBI (HERE) said the outlook was the weakest since December 2012 as the proportion of firms expecting lower output was now 3 percentage points higher than the share expecting growth. This marked a sharp turnaround from June, when there was a 16 percentage point margin in favour of those anticipating growth.
Meanwhile, swimming against the tide is this article (HERE) from The Daily Mail anticipating bad news this week and actually proclaiming everything is really good - unfortunately, most of the items on their list of "good new" are either backward looking or puts a positive slant on bad news.
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