The City of London feared the referendum, and shares were hit hard by the vote – but the latest economic data is reasonably positive
by Allister Heath
Unemployment is down, prices are steady, shoppers are confident and the government ran a budget surplus in July.
The first economic data for July – the month following the Brexit referendum – was published this week, and shows no signs of an immediate economic collapse.
It is early days and a slowdown is still expected, but the data are reassuring so far.
Campaigners such as former Chancellor George Osborne warned that a vote to leave the EU would cause “a profound economic shock”, and stock markets dived following the result.