Bank of England survey provides nuanced view of Brexit hit

Growth slowed across British business services and consumer spending eased last month, a Bank of England survey has shown. It offered a more mixed picture of the economy than some of the gloomier indicators since June’s Brexit vote.

The Bank of England released some of the findings of its August regional agents’ survey in last week’s quarterly inflation report, which showed companies expected the referendum would hurt capital spending, hiring and turnover over the coming year.

Although the latest report suggested the economy is likely to slow, the monthly survey of around 700 companies was not as starkly downbeat as the larger purchasing managers’ indices PMI.