The Passle network consists of people writing business-related posts for a business audience. We have seen over time that there is a very close correlation between general business activity and the number of post reads on a particular day. So, for example, weekends are typically well down on weekdays and Public Holidays way down on the norm.
Brexit has made the number of post reads on the Passle network fall by nearly 12.6%. Which would suggest that the sector catered to by Passle (busy experts) is 13% less active than before the event.
This sounds like an alarming slow-down but by way of contrast, a Bank-holiday week would be 8.9% down on previous highs, the week after Easter was down 15.2% and Christmas a whopping 65%.
Another interesting data point though is that the overall growth rate (~20% a month) is unaffected by these events and returns to trend as if the event had not happened. It'll be interesting to see if this is the case in a week or two.
The economic shock and disruption delivered by Brexit is on a par with the impact of devastating and unforeseen natural disasters, such as the 2011 Japanese earthquake, the OECD said today. The multilateral organisation has been forced to suspend the publication of its monthly “Composite Leading Indicators” (CLIs), which are designed to flag potential turning points in economic activity around the world by sifting through a wide array of data.