Quote:
Originally Posted by Stuart
With 85% of the questionnaires in, I am fairly certain whatever the final 15% of them contains, it isn't going to change the outcome much.
If they have 85% of the questionnaires in already, it should be relatively easy to publish full July figures that quickly, because they can collate the figures as they receive the questionnaires.
In fairness, all the report is saying is that we are seeing a sharp drop during a period of uncertainty. Both sides said we would have a period of uncertainty if we chose to leave the EU. Businesses are citing Brexit as the cause purely because they don't know how they are going to be affected when we leave the EU, so are less likely to invest a lot of money, at least until the uncertainty is resolved.
We may or may not have had problems had we chosen to remain, but businesses would have been more confident to invest as they would have had at least a vague idea of what was going on.
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The people supplying the data won't have full up-to-date data themselves.
As can be seen from the graph, this PMI has been on a downward trend for a couple of years. It also fluctuates wildly from month to month. It dropped dramatically just before the 2012 Olympics, however GDP shot upwards.