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| Brexit has had 'no major effect' on economy so far | Brexit has had 'no major effect' on economy so far |
| (35 minutes later) | |
| There has been little impact of the Brexit vote on the UK economy so far, says the Office for National Statistics (ONS). | There has been little impact of the Brexit vote on the UK economy so far, says the Office for National Statistics (ONS). |
| "The referendum result appears, so far, not to have had a major effect," its chief economist Joe Grice said. | "The referendum result appears, so far, not to have had a major effect," its chief economist Joe Grice said. |
| Official figures have not yet reflected the collapse in confidence predicted by some surveys since the referendum. | Official figures have not yet reflected the collapse in confidence predicted by some surveys since the referendum. |
| But the ONS warned that we have not yet had official figures for the service sector, which are due next week. | But the ONS warned that we have not yet had official figures for the service sector, which are due next week. |
| The services sector accounts for more than three-quarters of the economy - the index of services for July - is out on 30 September. | |
| The first estimate of how the whole economy fared in the three months after the referendum will be released on 27 October. | The first estimate of how the whole economy fared in the three months after the referendum will be released on 27 October. |
| There were stark warnings during the referendum campaign of the short-term effects of a vote to leave the European Union. | There were stark warnings during the referendum campaign of the short-term effects of a vote to leave the European Union. |
| But such effects have not yet appeared in official figures. | But such effects have not yet appeared in official figures. |
| The manufacturing and construction sectors have followed much the same trends as they had in previous months, while the ONS said the rise in inflation could be largely accounted for by last year's declines coming out of the annual figures. Employment figures for the three months to the end of July remained strong. | The manufacturing and construction sectors have followed much the same trends as they had in previous months, while the ONS said the rise in inflation could be largely accounted for by last year's declines coming out of the annual figures. Employment figures for the three months to the end of July remained strong. |
| Retail sales fell 0.2% in August, but had grown 1.9% in July. "So far there are no signs of a sharp collapse in consumer confidence as some early fears had suggested," the ONS said. | Retail sales fell 0.2% in August, but had grown 1.9% in July. "So far there are no signs of a sharp collapse in consumer confidence as some early fears had suggested," the ONS said. |
| But Joe Grice stressed that the figures seen so far were short-term indicators. "It hasn't fallen at the first fence but longer-term effects remain to be seen," he said. | But Joe Grice stressed that the figures seen so far were short-term indicators. "It hasn't fallen at the first fence but longer-term effects remain to be seen," he said. |