One uncertainty swapped for another – UK economy update

In the run up to the referendum on 23rd June, business confidence fell a little compared to the previous two years as decision-makers felt a sense of unease simply due to the uncertainty that came from such a large economic policy decision looming on the horizon. Immediately following the result the economy skipped a beat: the survey evidence in July was pretty dire. However the August confidence data is not dissimilar to the pre-referendum levels. Businesses have basically swapped the uncertainty they felt around the referendum result for the uncertainty as to what it means. Read more

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