Following the collapse of the construction PMI there’s going to be some nervousness around the services PMI
GBP longs beware! Yesterday’s was a very loud warning bell for Brexit related economic fallout. My first thought was that it was a big overreaction, considering that 80% of the survey was conducted before the result was known. However, if that’s how firms were reacting before the vote, there’s a very big chance that things won’t improve now the result is known.