Fathom’s UK Economic Sentiment Indicator (ESI), which had been unusually stable for more than a year, fell from 0.5% in September, to 0.3% in both October and November. This latest reading is the weakest since the immediate aftermath of the EU referendum, held on 23 June 2016. It supports our view that the UK economy, boosted by a prolonged period of unseasonably warm weather through the spring and the summer, has slowed in recent months. We expect growth of just 0.1% in Q4. Refresh the chart in your browser | Edit chart in Datastream ______________________________________________________________________ Thomson Reuters Datastream Financial time series database

Jake Moeller discusses the “Brexit” fallout with the CIO of Kames Capital–Stephen Jones

The British referendum on EU membership is fast looming on June 23, and there has been considerable debate on the impacts a potential “Brexit” might have on the U.K. funds industry. Recent news flow has highlighted the effect the uncertainty the referendum is having on investor sentiment generally. In May the FT reported data from the most recent Bank of America Merrill Lynch Fund Manager Survey showing not only a significant increase in cash holdings but a 16-percentage-point drop in allocation to U.K. equities—to the lowest point since 2008. In June Investment Week reported figures from the Bank of England showing £65 billion of U.K.