U.K. Manufacturers Are Stepping Up Stockpiling Efforts As Brexit Deadline Looms Closer
U.K. manufacturers are intensifying their stockpiling efforts as they brace for a potentially disruptive Brexit. Factories reported an almost record increase in stocks last month, IHS Markit said in a report Wednesday. New orders also picked up as firms and their clients rushed to protect themselves before the March exit date. “There is increased concern that the U.K. could leave the EU without a deal next March and this will lead to serious disruptions,” said Howard Archer, chief economic advisor at EY Item Club. The U.K. is set to leave the European Union on March 29, and reaching an exit agreement before the deadline remains uncertain. Crashing out of the bloc may leave the country facing a slew of new customs and border checks and other regulatory hurdles. Read more at Fortune.
