Dramatic deterioration. These are two words you don't want associated with your nation's economy, and are also coincidentally the two words Chris Williamson, the chief economist at IHS Markit, chose to describe Britain's financial situation since the Brexit vote.
According to IHS Markit's Purchasing Managers' Index, or PMI, a report that surveyed over 650 British businesses, manufacturing and service sectors have seen a decline in output and orders. Britain's PMI has fallen to 47.7, the lowest level since April in 2009. You remember 2009, right? That little old global financial crisis? Yeah. Yep.
"This is exactly what most economists were saying would happen," said Mr Williamson.
"The only other times we have seen this index fall to these low levels, was the global financial crisis in 2008/9, the bursting of the dot com bubble, and the 1998 Asian financial crisis. The difference this time is that it is entirely home-grown, which suggest the impact could be greater on the UK economy than before."
The survey also discovered that service companies feel less positive about the future than at any time since the recession.
And now for a slice of irony and pain: the pound has fallen yet again in response to the data. We've already told you what the decrease in the pound's value means for you, but in short: stuff is more expensive. Thanks.
Still, this is only a month's worth of data, and some people believe we have to wait a little longer to see the true effects of Brexit on our economy.
Or - and hear us out here - we could all move to Saturn? Anyone want to move to Saturn? Hit us up.
In your own time.
