Post Brexit – how does it look?

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Well here we are two and a half weeks post Brexit. We are about to have a new Prime Minister installed and have an opposition in turmoil. It looks worrying for the future of the Union and of course the news is full of scare stories. But does the country really feel that different?
I think everyone can agree that mixed signals and mixed messages resulted in a referendum result that few expected. But now we have all spoken and that result has been passed so how does the country truly feel?
One of London’s leading business clubs, completed a survey of its many members to see just how they were feeling and indeed if things had changed for them. The results are interesting.
Lets look at some facts, since Brexit Eve, the more internationally focused FTSE100 has now risen 3.8% whilst the domestically focused FTSE250 index is still down 8%. Sterling has fallen 13% against the US Dollar and 10% against the Euro, so this is not good for those of us Brits about to go on our summer holiday. It is however good for those buying our exports and for foreign investors looking to invest into the UK.
On the whole, 78% of the respondents were bearish over the outlook for the UK economy for the next 12 months, but longer term, there are slightly fewer bears and a few more optimists among you with this figure reducing from 78% to 54%.
However, although the majority of respondents to their survey had a negative view for the economy, both in the short and longer term, and with their appetite for risk reducing and perhaps some recruitment decisions being delayed, the vast majority – 67% have NOT made any immediate changes to their businesses nor have delayed making any major business decisions as a result of the referendum result.
So with true entrepreneurial grit, resilience and tenacity, the conclusion is clear: Keep Calm and Carry On!
Source – The Clubhouse Survey, 250 respondents.

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