BOE Regional Agents Survey Shows UK Businesses Have Pessimistic Forecasts

Britain’s businesses expect the vote for Brexit to lead to weaker investment, hiring and turnover over the coming year, according to a nationwide study by the Bank of England.

The monthly health check by Threadneedle Street’s regional agents found that construction and business services were the two gloomiest sectors during the month that followed the June referendum.

The one part of the economy that envisaged easier trading conditions was manufacturing, where exports will be made cheaper by the fall in the value of the pound.

The agents – considered to be the eyes and ears of the Bank – conducted interviews with 270 businesses employing 1.2 million people.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza