Factory output in Britain has fallen at the fastest rate in seven years as the risks posed to the economy by a no-deal Brexit rise and as global demand falters.
According to the monthly snapshot from IHS Markit and the Chartered Institute of Procurement and Supply, UK manufacturers scaled back production because of fading demand at home and abroad.
Output and new orders shrank as factories came under pressure from the high level of uncertainty over Britain’s future trading relationship with the EU and from the US-China trade war, which has caused a sharp slowdown in international trade.
New orders fell as businesses used up materials stockpiled in the run-up to the original 29 March Brexit deadline rather than place new orders. Alongside a drop-off in global demand because of the trade war, the survey also found EU-based companies were switching to non-UK suppliers to avoid potential Brexit disruption. [...]
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UK Manufacturing PMI press release
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