Post BREXIT - Presents a Worrying Scenario for Business

Following the BREXIT vote British businesses are already taking a major hit according to business information provider Markit.

Factory and services activity in July revealed the sharpest decline in output since the height of the global financial crisis, new data from IHS Markit on Friday.

Chris Williamson, chief economist at Markit, called the plunge "a dramatic deterioration in the economy." Not since 2009 have things been this bad. 

"A truly horrible survey -- pointing to the Brexit vote immediately giving the economy a good kicking as uncertainties and concerns set in," said Howard Archer, chief European & U.K. economist at IHS.