HK GOT INT,L STRATEGIC CONSULTING LIMITED

The latest data show that the UK's decision to withdraw from the EU led to a sharp deterioration in economic activity, the worst since the financial crisis in 2008, and more than most analysts expected.

Data released by research firm Markit IHS on Friday (July 22nd) showed that the UK's purchasing managers index (PMI) fell to 47.7 in July, the lowest point since April 2009, the.PMI low of 50, said the economy contracted.

The pound fell quickly.

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Data show that both manufacturing and service industries have declined in output and orders, but the weakness of sterling has pushed up exports.

The agency's data are based on surveys of more than and 650 service companies, such as transportation, business services, computer technology and food and beverage industry, the most common explanation for the company's business activities.

PMI index reflects the industry's expectations Markit.IHS chief economist Williamson believes that, in view of the service industry is expected to be so miserable, it is estimated that the situation will not improve in the short term.

Some economists believe that the latest data is first important evidence of Britain is a sudden turn for the worse, said the British economy is once again headed for a recession.

People also pointed out that de Europe bring shock factors long term effects of Europe of the British economy in the next few months in may dilute, July PMI data doesn't mean removal, short-term decline may not only with Europe off the, is more likely to be associated with global risks.

Economists expect the Bank of England to launch a new stimulus plan.

"Reset" of fiscal policy

Earlier, Hammond said he would "reset" Britain's fiscal policy.

Hammond said Friday that there is still time to decide whether or not to reset the fiscal policy in the fall budget report later this year, according to the data released in the near future.

Markit IHS report shows that the euro zone economic situation is more optimistic.

While business confidence fell to the lowest point in 18 months, the euro zone economic growth to maintain the trend before the referendum on the British off Europe, the region has increased employment in all countries.

European Central Bank said before the day, the European financial markets have suffered the impact of the uncertainty of the British off the European referendum brought about by the impact, the performance is good.