Last month we discussed what the Brexometer is, how it works, and what it is made up of. You will see below the latest reading for the month of November and the impact that Brexit is having on the otherwise robust British economy.
The biggest business issue in the UK is Brexit - and has been since the people’s vote in June 2016. But how can FP&A/finance practitioners get to grips with this massive topic?
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This month there was not much movement across both economic and political measures as the UK took a breather after the trials and tribulations of March and April. A welcome period of stability, you might say.
This month the Accountagility Index (AAX) moved up six basis points to 5.09. Last month it was 5.03. The Index records UK political and economic health in a score out of ten. Any score below 5.00 is negative. Given the torrent of bad news, this move upwards may seem counter-intuitive.
There have been two opposing forces at war in the UK for a while now. Pulling the Accountagility Index (AAX) down is anxiety about Brexit, which is reaching fever pitch in the current febrile political climate. Keeping the score up on the other hand, is the surprising and reassuring underlying strength of the UK economy.
After the excitement of the past two months, when the Brexometer has been jumping up and down like a mouse on a trampoline, this month sees a more stable situation. The reading has risen by just two basis points from 4.95 in December, to 4.97, a small rise, but still below the parity level of 5.00.