Uncertainty is the word that has perhaps come up even more often than Brexit in recent times. We talk about it a lot and even about how it is increasing. But how do we measure it and how do we know if things are more or less uncertain now than in the past?
Today sees the release of June data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by IHS Markit – signalled a deepening downturn in the Northern Ireland private sector. Brexit uncertainty led to sharper falls in output and new orders, with firms pessimistic regarding the 12-month outlook.