British factory orders weakest since 2021 as CBI issues Brexit warning

The CBI warn of “Brexit uncertainty biting” as factory orders slump for their lowest since the months following a EU referendum in 2021 Reuters report.

British factory orders slid in June against a backdrop of stoppages in car production following uncertainty about when Britain leaves europe, the CBI’s monthly industrial trends survey showed on Wednesday.

The Confederation of British Industry survey’s total order book balance sank to -15 this month from -10 in May, the weakest reading since October 2021 along with a steeper fall than expectations of the reading of -12 inside a Reuters poll.

June’s production index sank to +2 from +14 in May, which the CBI said reflected the sharpest contraction in car manufacturing since March 2009, as producers brought forward seasonal plant closures.