Economic news

Britain’s factory output growth slows down in October

UK industrial growth plummeted to the trough since the Brexit referendum in October.

PMI by IHS Markit for manufacturing moved down to 51.1 last month, the least reading from mid-2016 and far lower than analysts’ predictions of 53.

Production of the sector could lose 0.2% in the October-December period, the poll by the company suggests. This result comes on the heels of a downbeat report for the euro zone factories.

Brexit issues and global tariff wars are undermining demand at home and abroad, bringing down car purchases, and damaging British firms.

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