Manufacturing Darkens Cloud Over U.K. Economy in Critical Week
- Factory, construction data disappoint as BOE looks for pickup
- Bleaker outlook comes as government tries to pass Brexit bill
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The U.K. economy is looking weaker than expected, wrong-footing the Bank of England and weighing on the government as it tries to push through key Brexit legislation.
The pound fell on Monday after a report showing manufacturing output shrank the most in 5 1/2 years in April and a feeble gain in construction. The figures are a rough start to a packed week of data that will test the BOE’s hypothesis that growth will rebound after a snow-blighted first quarter.