The confidence of British business appears to be on the rise again. After weakening in July the Purchasing Managers Index rose from 48.3in July to 53.3 in August. The joint highest month on month increase since the index began 25 years ago. I believe this reflects that fact that after the initial shock of the vote to leave the EU British businesses are realising that actually life outside the EU will not be all that bad after all. Life goes on. Other Europeans will still want to buy our goods (and just as importantly Europeans will still want to sell to us). Moreover, it will be easier once we leave for us to make trade deals with the rest of the World opening up whole new opportunities for UK business.
2 thoughts on “Purchasing Managers Index”
Given that during May/June the doom preached by the remain campaign said either a 3rd world war or at least total economic collapse would be the result, no surprise that purchasing managers didn’t stock up!! Now they have dohh!!! Monday (6th September) see’s the publication of the service industries equivalent index. If that’s up, well go tell Mr Carnie to cancel printing 130 billion mickey mouse quids. Who pays that melon – ohh we do – damn.
Just a pity Anna Soubury is trying to undo our good work.
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