Factories sit on stockpiles with orders in short supply - News Summed Up

Factories sit on stockpiles with orders in short supply


Manufacturers have built up stocks of finished goods to levels not seen since the financial crisis, but new orders are at their lowest level in more than two years, according to the CBI. A balance of -10 per cent of businesses reported a rise in new orders in the three months to May, compared with -5 per cent three months ago, according to the business lobby group’s latest industrial trends survey. It was the lowest level since October 2016 and significantly below economists’ forecasts. Companies have been stockpiling at an unprecedented level since the Brexit referendum, a trend that has escalated in recent months as businesses rushed to build up stocks in advance of the original March 29 Brexit deadline. Factories are holding the greatest…


Source: The Times May 21, 2019 23:03 UTC



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