What does the referendum result mean for the UK economy?
In the short term, we are likely to see companies cut back investment, really just to wait to see whether they can find more details around how the UK’s relationship will progress going forward. And of course that will mean a negative impact on GDP growth.
Households are also likely to suffer from a reduction in employment growth or maybe even job losses as well, related to Brexit.
And of course we have already seen sterling take quite a big hit. That is going to feed through into higher import prices and higher inflation, which will also reduce demand.