Brexit: Stockpiling increases to record level

Manufacturers stockpiled goods at the fastest pace on record during the three months to April as the danger of a no-deal Brexit loomed large and sent business confidence tumbling. An unprecedented number of companies in the sector amassed inventories of raw materials and part-finished goods, as well as completed products, the CBI said in its latest industrial trends survey. A balance of 39 per cent of businesses reported a rise in stocks of raw materials compared with three months ago, while the reading for unfinished products was 21 per cent and finished goods 25 per cent.