Even though the British manufacturing sector is the ninth-largest in the world, Brexit has already had an impact and it could get even worse. Factories in Britain have suffered a sixth consecutive month in October showing fewer new orders thanks to the ongoing Brexit uncertainty. The industry is facing a tough future with weakened global demand for UK manufactured goods and employment issues.
According to an industry survey, Brexit has not only affected demand but also an increase in job losses. The survey was conducted before the announcement of the election which reflects two months of preparations for leaving the EU on 31 October. Of course, we all know what happened with that story.Continue reading