U.K. Manufacturers Post Modest Recovery From Brexit Shock
- Factory output rises 0.2%, less than economists forecast
- Trade gap widens as pound fails to deliver widespread boost
An employee prepares to fit a wheel to a Mini automobile, produced by Bayerische Motoren Werke AG (BMW), inside the final assembly plant in Oxford, U.K., on Tuesday, Sept. 20, 2016. The U.K. should maintain European Union regulations covering everything from working hours to chemicals until after the government sets out its plans for Brexit, said British manufacturers anxious to avoid a policy vacuum and safeguard access to their biggest export market.
Photographer: Chris Ratcliffe/BloombergU.K. manufacturers staged a modest rebound from the initial shock of the Brexit vote as a weaker pound boosted overseas demand for cars.
Output rose 0.2 percent in August, less than the 0.4 percent predicted in a Bloomberg survey, Office for National Statistics data published Friday show. It followed a 0.9 percent drop in July in the aftermath of the shock decision to leave the European Union. Total industrial production fell 0.4 percent, depressed by lower oil and gas extraction.