Unemployment is down, prices are steady, shoppers are confident and the government ran a budget surplus in July.

The first economic data for July – the month following the Brexit referendum – was published this week, and shows no signs of an immediate economic collapse.

It is early days and a slowdown is still expected, but the data are reassuring so far.

Campaigners such as former Chancellor George Osborne warned that a vote to leave the EU would cause “a profound economic shock”, and stock markets dived following the result.

But since then share prices have risen back above their pre-vote levels and fears of a recession are falling.

David Fuller's view

Here is a PDF copy of the article.

It is a colorful headline but hyperbolic.  More people are energized than depressed by Brexit and others are carrying on as normal.  It will be several years before we can objectively assess the results of Brexit.  Meanwhile, this is a governance issue and standards of governance are never constant but vary over time.  Nevertheless, if one believes in democratic control of a nation by its own citizens, Brexit is a very positive development.