Shortly before Brexit, British industry cut back as many vacancies in February as it has in six years. In addition, the companies increased their stocks as a fear of a chaotic EU exit as strong as never before. This was the result of the monthly company survey of the IHS Markit institute presented today.
As expected by economists, the PMI for total business fell by 0.6 to 52.0 points. However, the barometer was above the 50-counter mark, indicating growth. „Official data confirms that the manufacturing sector is already in recession,“ said IHS Markit expert Rob Dobson. Britain plans to leave the EU at the end of March.
