Home Business NewsBusiness UK manufacturing bolstered by weak pound, says CBI

UK manufacturing bolstered by weak pound, says CBI

by LLB Reporter
21st Aug 18 2:52 pm

British manufacturing is in a “robust” shape, a survey by the Confederation of British Industry showed today, with 13 of 17 sectors reporting expansion thanks to a weak pound.

CBI economist Anna Leach added: “Manufacturing growth remains strong, supported by the lower level of sterling and strong global economy. But risks to that growth remain high in light of international trade tensions and the uncertainty caused by Brexit.

“Make no mistake, a ‘no deal’ scenario would be immensely damaging not just for UK manufacturers, but also the rest of the EU.

“So both sets of negotiators need to demonstrate flexibility and compromise to protect trade flows worth 600 billion euros each year, particularly against the backdrop of increasing protectionist rhetoric.”

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