UK manufacturing slid before coronavirus crisis escalated - survey [Reuters (UK)]
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Source: Reuters
UK manufacturing slid before coronavirus crisis escalated: survey - Reuters 3 Min Read LONDON (Reuters) - Manufacturing in Britain weakened sharply in early 2020 even before concerns about the coronavirus crisis escalated, adding urgency to the need for a trade deal with the European Union, an industry survey showed on Monday. Trade body Make UK and accounts BDO said exports shrank for the first time since late 2016 and output slumped as factories ran down stocks they had built up before a Brexit deadline in October. The survey was conducted in the three weeks to Feb. 19. Make UK cut its forecast for British manufacturing output in 2020 as a whole, saying it now predicted a drop of 2.1% compared with previous forecast for a rise of 0.3%. It warned that the coronavirus outbreak could mean a further cut. “Even before the current situation, the shocking drop in exports could not have come at a worse time ahead of potentially difficult trade talks where the clock is running down fast,” sa
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