The result of the referendumin the UK on 23 June 2016 has
led to an abrupt change in general conditions for the sector
,despite the fact that the UK government has not yet formally ap-
plied to withdrawfromthe EU.
In an initial reaction, the British
pound declined dramatically in value against the euro ( and
other currencies) . The price competitiveness of German com-
panies compared to companies producing in the UK has thus
deteriorated. True, the dollar-based oil price means that crude
oil, and consequently also producer prices in the UK are likely to
become more expensive.