BREAKING NEWS

Most US firms believe Brexit will have negligible impact

By REUTERS

JULY 1, 2016 18:55

WASHINGTON - A majority of US firms see only a negligible impact from Britain's vote last week to leave the European Union, according to an industry report released on Friday.

The Institute for Supply Management (ISM) said that 61 percent of businesses it surveyed saw a negligible impact compared to 6 percent who saw a negative impact for the remainder of the year.

According to the report, 27 percent saw a slightly negative impact while a further 4 percent forecast a slightly positive impact. There was little difference between non-manufacturing and manufacturing firms.

For those forecasting a negative impact, they mostly believed it would be a result of changes in foreign exchange rates stemming from the 'Brexit' vote.

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