Re PMI. I doubt the markets are listening to forum opinions. They have their own measures.
As for devaluation, there is no doubt sterling was considered overvalued, but the markets are now imposing a forced revaluation and there is no UK control of that. Notwithstanding, the potential outcomes of exit have not been quantified. The referendum was naively offered and its effects are yet to be realised. Not a good policy, to launch into the unknown without a pilot.
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