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Brexit Hit U.K. Factories Harder Than Initially Estimated

  • Factory PMI plunged to 48.2 in July from 52.4 in June
  • Bank of England policy makers to decide this week on stimulus
Bloomberg business news

Brexit Hits U.K. Manufacturing

Updated on

U.K. manufacturing shrank more than initially forecast in July, suffering its biggest drop in more than three years.

A Purchasing Managers’ Index slumped to 48.2, below the one-off flash reading of 49.1, Markit Economics said Monday in London. The index has only fallen below the 50 mark -- which separates expansion from contraction -- one other time since early 2013. The index was at 52.4 in June.