Stockpiling Frenzy Drives UK Factories Ahead Of Brexit: PMI
Factories in Britain stockpiled for Brexit at an explosive rate last month, unlike anything seen before in a major rich economy, pushing manufacturing growth to an unexpected 13-month high, a survey has shown.
The IHS Markit/CIPS UK Manufacturing Purchasing Managers' Index (PMI) rose to 55.1 from 52.1 in February, confounding all forecasts in a Reuters poll that had pointed to a reading of 51.0.
The headline figure far exceeded readings from the euro zone, where a global slowdown has left factories in a slump.
Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.
A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!