Manufacturing orders increase after no-deal brexit avoided
A survey conducted by the Confederations of British Industry (CBI) shows that there has been an increase in orders for British manufacturers during November, although this was against a backdrop of near decade lows. It is believed that the avoidance of a no-deal Brexit is one of the main reasons for such an increase. The level of orders in October was the worst in nine years.
The CBI have said that they think manufacturing output will be flat in the next three months as the new Brexit deadline of January 31 set by the European Union begins to move closer.
Anna Leach, CBI’s deputy chief economist commented: “While the thick fog of uncertainty from a no-deal Brexit has lifted somewhat, the manufacturing sector remains under pressure from weak global trade and a subdued domestic economy.”
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