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LONDON — Ever since the Brexit cliff failed to emerge, Leavers have been celebrating.

The UK economy continued to grow after the referendum vote to exit the EU a year ago. The Remainers were wrong: Apparently, we can have a strong economy without being attached to the EU.

But now, with the first three months of the two-year Article 50 period gone and no concrete progress to show, we're starting to see economic data that backs up the theory that the Brexit cliff will be more of a gentle, downward slope:

Business confidence is in decline.

The Purchasing Managers' Index (PMI), a measure of intended business activity, is trending down.

And new car sales are in decline.

There is one thing that has gone up: the amount of cash businesses are storing in overseas bank accounts.