It feels like business as usual

Peck, Frank ORCID logo ORCID: (2016) It feels like business as usual. In Cumbria Magazine, 2016 (August). p. 15.

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Professor Frank Peck of the University of Cumbria’s Centre for Regional Economic Development writes for in-Cumbria on the big issues of the day and the economic data behind them. This month, post-referendum trends in Cumbria: what do the local headlines tell us? Following the Referendum result announced on June 24th, businesses across the UK have been trying to take stock of the implications of the vote. At national level, the difficulty in making any assessment has been compounded by political uncertainties and lack of direction concerning what BREXIT actually means. After the initial shock to the finance system, currency markets appear to have stabilized for the time being though there is growing speculation about the terms under which the UK will trade with Europe and the rest of the world in future: the electorate have voiced a preference for BREXIT but nothing as yet has changed and all is to be negotiated. It may, of course, be much too early to tell what effect even the anticipation of BREXIT might have on business decision-making. These will take time to work through. The usual lags that occur in official data on the economy also present challenges for those tasked with monitoring the effects of any government policy changes, yet alone BREXIT. In this evidence vacuum, the pattern of reports found in the business pages of Cumbrian newspapers paints quite a useful and informative picture. Though lacking scientific rigour, monitoring public announcements of investments, job gains and losses provides a timely source of what is happening on the ground.

Item Type: Article
Journal / Publication Title: In Cumbria Magazine
Publisher: CN Group
Departments: Centre for Regional Economic Development (CRED)
Depositing User: Anna Lupton
Date Deposited: 16 Mar 2018 12:14
Last Modified: 11 Jan 2024 16:48


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