Should the UK remain a member of the EU

[Cardie]

.

[Anubis]

http://www.independent.co.uk/news/business/news/brexit-manufacturing-falls-even-faster-than-thought-in-wake-of-vote-a7165911.html

 

Manufacturing activity fell even more rapidly in the wake of the Brexit vote than first expected, according to the latest much-watched survey snapshot of the sector.

 

Markit/CIPS said that in July its Purchasing Managers’ Index stood at 48.2, below the 50 point that separates growth from contraction – and also below the 49.1 “flash” estimate that it produced on 22 July.

 

The reading implies the fastest rate of contraction in UK manufacturing activity since February 2013.

 

Fastest contraction since February 2013

 

manu.jpg

Markit/CIPS

Employment decreased for the seventh straight month in July and the rate of job loss was the second-fastest for almost three-and-a-half years, Markit/CIPS said. Firms attributed this to the decline in output and new orders.

 

The index from fresh orders dipped to 48.3, its lowest in three years.

 

David Noble of CIPS said the industry – which accounts for around 10 per cent of UK GDP – had taken a “backwards leap” since the 23 June vote to leave the European Union.

 

“Though these falls were not as marked as those seen during the Great Recession in 2007-2008 the drop was harsher than expected…Without new orders coming through, this downward trajectory is likely to get worse, at least in the short term.”

 

Uncertainty over the UK’s future trade relations with the rest of the European Union has hit confidence hard in manufacturing firms since the EU is the biggest overseas market for UK-produced goods. There are widespread fears that producers could face tariffs to export to the continent if the UK loses access to the European single market.

 

The message from the latest manufacturing PMI is very different from the surprisingly strong Office for National Statistics figures released last week, which showed an estimate that manufacturing output shot up by 1.8 per cent in the second quarter of this year, its biggest quarterly surge since 1999.

 

However, the ONS figures also showed that most of the activity growth was concentrated in April, with the pace of growth seen as falling away rapidly in May and June.

 

Theresa May says she has an 'open mind' over Brexit negotiations

 

“The July UK Markit/CIPS manufacturing survey suggests that the surge in manufacturing output in Q2 was a one-off and the vote to leave the EU has added to pressures on the sector,” said Scott Bowman of Capital Economics.

 

“These disappointing figures would indicate that the uncertainty deterring manufacturers from making vital investment decisions prior to the EU referendum has taken a stranglehold since the vote and we can expect to see businesses continuing to protect cash and guard investment," said Mike Rigby, head of manufacturing at Barclays.

 

Business picture of the day

 

Economists say that the post-referendum output readings of the PMI surveys for manufacturing and also the dominant services sector are historically consistent with a contraction in overall GDP in the third quarter of 2016.

 

uk-pmis.jpg

Many City of London economists are also expecting a return to recession, or two quarters of negative GDP growth.

 

The Bank of England is widely expected to cut interest rates from 0.5 per cent to 0.25 per cent on Thursday to support the economy.

 

Despite the overall weakness of the latest manufacturing survey, Markit/CIPS said the level of incoming new export orders rose for the second successive month in July aided by the recent depreciation of the sterling exchange rate. The pound has fallen around 10 per cent on a trade-weighted basis since the referendum vote.

[Lario]

It's OK. Farage has his life back!

[Jairzinho]

https://www.youtube.com/watch?v=Gzx0QIvuHgA

 

First half of this. Thought the guest was really good.

[aRdja]

0.25%, and I'm heading to San Sebastián tomorrow... My pintxos just got a little more exy.

[AngryOfTuebrook]

Are ISIS going to leave us alone on the off-chance of brokering a trade deal?

I don't see why not. It's not as if UK governments have ever been fussy about who they sell arms to.

[Strontium]

I don't see why not. It's not as if UK governments have ever been fussy about who they sell arms to.

 

Here is the list of current arms embargoes, which demonstrates that there is at least a little fussiness:

 

https://www.gov.uk/guidance/current-arms-embargoes-and-other-restrictions

[skend04]

So BoE estimates 250,000 job losses over the next year or 2. I'm just wondering if any of those who voted out would like to comment? Or is it the new "we are going into recession because people aren't carrying on as normal" excuse that I've heard being bandied about by the Leave brigade.

[Mook]

So BoE estimates 250,000 job losses over the next year or 2. I'm just wondering if any of those who voted out would like to comment? Or is it the new "we are going into recession because people aren't carrying on as normal" excuse that I've heard being bandied about by the Leave brigade.

They're too busy celebrating the fact that there will be no terrorist attacks in Britain now and that all the Polish immigrants have been sent home to notice that we're fucked.

[Jairzinho]

0.25%, and I'm heading to San Sebastián tomorrow... My pintxos just got a little more exy.

 

Can you ask around to see if they've got any TEFL jobs, mate?

[Sputnik1]

So BoE estimates 250,000 job losses over the next year or 2. I'm just wondering if any of those who voted out would like to comment? Or is it the new "we are going into recession because people aren't carrying on as normal" excuse that I've heard being bandied about by the Leave brigade.

 

 

It's an improvement on the 

 

 

 

More than 800,000 jobs could be lost as the UK plunges into recession after leaving the EU, David Cameron and George Osborne claimed today.

 

Plus, no war yet. Still waiting for that and the zombie apocalypse. 

[skend04]

It's an improvement on the

 

 

Plus, no war yet. Still waiting for that and the zombie apocalypse.

It was BoJo that used the phrase WWIII but as per usual don't let facts get in the way of whatever it is that they get in the way of.

[Gym Beglin]

Apparently a £20 saving per month on a mortgage is fucking brilliant news.

 

Well done BoE.

[Sputnik1]

It was BoJo that used the phrase WWIII but as per usual don't let facts get in the way of whatever it is that they get in the way of.

 

Facts, the word is, facts. 

 

Brexit will increase the risk of Europe descending into war, David Cameron will warn as he says that Britain will pay a high cost if "we turn our back" on the EU.

 

http://www.telegraph.co.uk/news/2016/05/08/cameron-brexit-will-increase-risk-of-europe-descending-into-war/

 

 

David Cameron’s history is rubbish. Whatever the virtues of remaining in the EU, his idea in today’s speech that “whenever we turn our backs on Europe, sooner or later we come to regret it” is nonsense. As for Brexit “raising the risk of war”, it is Project Fear gone mad.

 

https://www.theguardian.com/commentisfree/2016/may/09/brexit-cause-war-nonsense-david-cameron-history-eu-debate

[skend04]

Facts, the word is, facts.

 

Brexit will increase the risk of Europe descending into war, David Cameron will warn as he says that Britain will pay a high cost if "we turn our back" on the EU.

 

http://www.telegraph.co.uk/news/2016/05/08/cameron-brexit-will-increase-risk-of-europe-descending-into-war/

Again, where did he say WWIII? It's a perfectly reasonable assumption that Europe could descend into conflict if you are aware of the history of our continent stretching back millennia.

 

Anyway we are digressing. What do you think to 250000 job losses? Were you pissing and moaning about Tories austerity budget back in 2010 which led to job losses and if you were then and voted out in the referendum why is it okay now that 250000 people could lose their jobs?

[Boss]

http://www.express.co.uk/news/uk/695929/uk-brexit-leave-remain-poll-eu-referendum

 

The latest YouGov polls show that the idea that leave voters would suddenly vote remain if they had the choice again is a complete fallacy. 

[moof]

Fuck polls

[Sputnik1]

Again, where did he say WWIII? It's a perfectly reasonable assumption that Europe could descend into conflict if you are aware of the history of our continent stretching back millennia.

 

Anyway we are digressing. What do you think to 250000 job losses? Were you pissing and moaning about Tories austerity budget back in 2010 which led to job losses and if you were then and voted out in the referendum why is it okay now that 250000 people could lose their jobs?

 

 

You had my answer, better than the 800k predicted and at least we don't have a war to contend with. Phew. 

[moof]

You had my answer, better than the 800k predicted and at least we don't have a war to contend with. Phew.

Yet. Give it time.

[Kloppite]

So BoE estimates 250,000 job losses over the next year or 2. I'm just wondering if any of those who voted out would like to comment? Or is it the new "we are going into recession because people aren't carrying on as normal" excuse that I've heard being bandied about by the Leave brigade.

Well if we arent going to have the free movement of people then surely the job losses will be covered with the EU migrants heading home to their native countries.

 

Lies; dam lies and god dam statistics.

 

Sent from my GT-I8200N using Tapatalk

 

 

[cloggypop]

http://www.express.co.uk/news/uk/695929/uk-brexit-leave-remain-poll-eu-referendum

 

The latest YouGov polls show that the idea that leave voters would suddenly vote remain if they had the choice again is a complete fallacy.

[Spy Bee]

All today's news being broadly reported as just bad news, but in reality the FTSE 100 and 250 are significantly up. The currency exchange rate has only gone down fractionally, and everyone's mortgage just got cheaper. I'm opting to look on the bright side of life.

[Strontium]

Doubtless everything looks bright if you stick your head in the sand for long enough.

[aRdja]

Can you ask around to see if they've got any TEFL jobs, mate?

On it.

[Barrington Womble]

Well if we arent going to have the free movement of people then surely the job losses will be covered with the EU migrants heading home to their native countries.

 

Lies; dam lies and god dam statistics.

 

Sent from my GT-I8200N using Tapatalk

Except I think even ukip said nobody here today will be sent home.