UK economy deteriorates after Brexit shows record drop PMI

LONDON (Reuters) - The UK economy seems to be shrinking at the fastest pace since the financial crisis in the wake of last month's referendum which decided to exit the European Union, according to the survey Purchasing Managers Index (PMI in acronym in English), which recorded the largest drop in its 20-year history.

The Preliminary PMI Markit showed that --a service sector of the few britânico-- economic growth engines was especially affected by the referendum, with orders and confidence deteriorating.

The PMI for the services sector fell to 47.4 in July from 52.3 in June, sharpest drop since the survey began in 1996, and the weakest reading since March 2009, around the time of the worst economic recession global. Economists polled by Reuters had expected drop to 49.2.

Evidence of the sharp drop in activity can alarm the British central bank, which is trying to decide which forces must act to cushion the consequences of the referendum.

The Markit said if the PMIs remain at these levels will be consistent with a contraction of the economy to a quarterly rate of 0.4%, the rate of decline that has not been seen since the recession of 2008-09.

The industry PMI fell to 49.1 from 52.1 in June, lowest reading since February 2013. The PMI Composite, which combines services and industry, fell to 47.7 from 52.4, the weakest level since April 2009 .