“However, the extent and speed of the downturn in the face of political and economic uncertainty is a clear warning flag for the wider post-Brexit economic outlook.” Britain’s building industry nosedived to its worst performance in seven years last month as a collapse in new orders clobbered firms ahead of the looming EU referendum vote. One economist described the outlook as dire for the industry after the prospect of a vote to leave the EU sent property investors scurrying for the exit door. “A number of firms commented on reluctance among clients to commence new contracts in the run-up to the EU referendum, alongside ongoing uncertainty about the general economic outlook. “Furthermore, the survey was 80% completed before the UK voted to leave the EU.

Source: The Guardian July 04, 2016 09:39 UTC