British business activity wilted in the third quarter, especially in manufacturi...
LONDON - British business activity wilted in the third quarter, especially in manufacturing, according to a survey on Friday that boded poorly for the country’s economy in late 2019 as it faces the Brexit crisis and a global slowdown.
The British Chambers of Commerce’s survey of 6,600 companies showed domestic manufacturing sales fell at the fastest pace since late 2011. Growth in the much larger services sector also slowed. “Looking forward, weakening orders, confidence and investment intentions suggest that unless action is taken the UK’s current weak growth trajectory could drift markedly lower over the near term.”
The BCC said more manufacturers reported a worsening of cash-flow than those reporting an improvement. The difference was the widest since late 2011.
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