UK PMIs revealed a 'dramatic deterioration' in the UK economy post-Brexit. Composite PMI index of business activity in the United Kingdom in July reached a minimum of 87 months – since April 2009, according to preliminary data of the Markit Economics. Britain’s economy is likely to shrink by 0.4% in the III quarter, experts say. The index slumped to 47.7 in July from 52.4 points in June. According to experts, the easing of the monetary policy at the next meeting of the Bank of England in August has become "almost irrefutable".
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