Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

UK industry outlook weakest since 2009 on Brexit and world slowdown

UK industry outlook weakest since 2009 on Brexit and world slowdown
FILE PHOTO: Cars are displayed outside a showroom in west London October 4, 2013. REUTERS/Luke MacGregor -
Luke MacGregor(Reuters)
Euronews logo
Text size Aa Aa

LONDON (Reuters) – British manufacturers expect their orders to fall at the fastest rate in a decade over the next three months due to the slowing global economy and Brexit uncertainty, a quarterly survey by the Confederation of British Industry showed on Tuesday.

The CBI said its manufacturing orders balance sank to -19 in October from +10 in July, the lowest since April 2009.

The CBI’s monthly orders balance for October sank to -37 from -28 in September, below all forecasts in a Reuters poll and its lowest since March 2010.

“A combination of Brexit uncertainty and weaker global growth are clearly hitting sentiment and export prospects, with job prospects at their weakest since the global financial crisis,” CBI chief economist Rain Newton-Smith said.

(Reporting by David Milliken; Editing by William Schomberg)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.