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UK manufacturers in despair at Brexit impasse, says CBI


Britain’s manufacturers are in despair at the failure of politicians to end the Brexit impasse, according to the CBI, which reported a drop in output in March as businesses cut back production. Export order books increased among the 358 manufacturers in the survey, supported by the low level of sterling, but this was cancelled out by a decline in domestic demand to leave the industry in a weakened position ahead of a decision in parliament on Brexit. The total orders balance fell back to +1% in March after picking up to +6% in February from a three-month low of -1% in January, the CBI said. Prospects for the industry were likely to worsen following the recent slowing in the global economy, which was expected to undermine the demand from foreign buyers for UK manufactured goods.

The Guardian - March 20, 2019

View the full story here: https://www.theguardian.com/politics/2019/mar/20/uk-manufacturers-in-despair-at-brexit-impasse-says-cbi