[Merged]Brexit good news

[Old Greg]

UK construction shrinks at fastest rate since 2009

Britain’s construction industry shrank at the fastest pace in seven years in July following the Brexit vote, according to a closely-watched industry survey. The construction PMI from Markit/CIPS fell to 45.9 from 46.0 in June

https://www.theguardian.com/business...-business-live

Great news as this will decrease the cost of construction due to excess capacity in the sector, making UK PLC more competitive!

[CretinWatcher]

The great news just keep coming. We seem to have achieved a kind of paradise.

[GB9]

Morrison's cut the cost of over 1,000 items yesterday. More shocking news.

[Old Greg]

Morrison's cut the cost of over 1,000 items yesterday. More shocking news.

They've already slashed prices hugely in USD terms, making the UK a more attractive destination for overseas tourists!

[Old Greg]

https://www.theguardian.com/business...-business-live

Great news as this will decrease the cost of construction due to excess capacity in the sector, making UK PLC more competitive!

Chris Williamson, chief economist at Markit, said the survey showed the continued impact of Brexit-related worries on the economy that raises the risk of a recession.

If the construction PMI is combined with the final manufacturing and the flash services PMI, the ‘all sector’ PMI will have sunk to 47.3 from 51.9 in June. As such, the surveys signal the steepest fall in business activity since April 2009; the turnaround in the index (a 4.6 point drop) being the largest ever deterioration recorded since the surveys began in 1997. We await tomorrow’s final services PMI for an updated signal.

While we remain cautious about reading too much into the survey signals from months in which both political and economic uncertainty was so intense, the data raise the prospect of the economy sliding into decline in the third quarter and entering recession.

Employment fell for the first time in just over three years as construction firms scaled back capacity. Use of subcontractors fell the most in nearly three years.

Williamson added:

A ray of hope was provided by the rate of decline of new orders easing slightly compared to June’s three-and-a-half year record, though it was still worryingly steep.

There were mixed signals on inflationary pressures. While prices for materials spiked higher as the weak pound caused import prices to rise, showing the largest monthly rise since March of last year, rates charged by subcontractors showed the smallest rise for just over three years as firms competed for business on price.

Read between the Bremoaning Minnie lines and you can see that Brexit is providing the much needed shock to revitalise the economy!

[GB9]

They've already slashed prices hugely in USD terms, making the UK a more attractive destination for overseas tourists!

By 10%. Great for all the booming businesses on the Irish border and the additional influx of tourists we are getting. All that lovely morning ey coming into the UK.

[Old Greg]

By 10%. Great for all the booming businesses on the Irish border and the additional influx of tourists we are getting. All that lovely morning ey coming into the UK.

Yes, it's a sign of the increasing economic strength of UK PLC!

[GB9]

Yes, it's a sign of the increasing economic strength of UK PLC!

It's money coming inwards which is good.

Ref my other post re: devaluation if the ¥.

[Old Greg]

It's money coming inwards which is good.

Let's hope that GBP falls even further making UK PLC even more competitive!

[GB9]

Let's hope that GBP falls even further making UK PLC even more competitive!

The Japanese are desperate for the Yen to fall for that very reason.