Key Survey Sees UK Economy Shrinking After Brexit Vote

Key survey sees UK economy shrinking after Brexit vote

LONDON, (Pakistan Point News - 22nd july,2016)- British business activity sank in July to its lowest level since April 2009, a survey showed Friday in the first indication of economic contaction since the shock EU exit vote. The composite purchasing managers' index (PMI) by Markit research group sank to 47.7 points in July, down from 52.4 in June. A reading under 50 indicates contraction in private sector business activity.