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They have performed well—but are about to face a new set of challenges
Friday saw the clearest signals yet that the real economy is heading for a slowdown. The Purchasing Managers Index, viewed as one of the leading indicators of economic health, found that output and new orders contracted for the first time since 2012. Sentiment in the service sector slumped to a seven-and-a-half year low.
For policymakers trying to make sense of the post-referendum environment, a key question will…
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