CONTRARY to Ian McConnell's doom and gloom-laden article (“Exasperating poppycock on Tory economic record amid Brexit fiasco ", Herald Business, September 2), the latest Purchasing Managers' Index (PMI) figures suggests a welcome rebound in British manufacturing confidence following the sharp decline after the Brexit vote and If the momentum can be maintained it will mean very good news for our economy for a number of reasons.

First, the previous Chancellor promised to "rebalance" the economy which meant less emphasis on the financial and services sectors and more on manufacturing, but in spite of best efforts it didn't happen. However since Brexit the pound has devalued circa 15 per cent, which has made British products more competitive; good news for the balance of payments and for those on lower wages who lost out in the revival of our economy since the financial crisis.

However, with winners in the economy (including tourism) since the Brexit voters won the referendum, there will be losers, which could well mean the financial sector and the property speculators in London - no bad thing if Theresa May is to achieve her more equal society.

Interestingly, the latest Eurozone PMI index fell to the lowest level for three months, giving Mario Draghi and the European Central Bank plenty to think about - Mr McConnell please take note.

Of course these are early days and uncertain times but provided Ms May takes a pragmatic view and is successful with the Brexit negotiations then almost by default there could be at last a rebalancing of the economy and those same working class people who supported Out due to suffering mass immigration and low wages could be the real winners. Let's hope so.

Ian Lakin,

Pinelands,

Murtle Den Road, Milltimber, Aberdeen.