'Major downturn in the economy'
Media playback is unsupported on your device
Video

'Major downturn in the economy', says Chris Williamson from IHS Markit

The economy saw "a major downturn" in July after the UK's vote to leave the EU, says Chris Williamson from IHS Markit.

His company carried out a closely-watched survey of more than 650 businesses measuring their activity - known as the "Purchasing Managers' Index" (PMI).

But he says the Brexit impact could be short-lived.