U.K. Manufacturing Growth Resilient on Pound Weakness, CBI Says
- Output inflation pressures remain at a historically high level
- Exporters’ order books are looking robust as Brexit looms
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U.K. manufacturing continues to benefit from the weaker pound, the Confederation of British Industry said in a report published on Tuesday.
While overall growth eased slightly in August, output and orders expanded at a pace above the long-term average. Exporters, aided by the currency’s depreciation since the Brexit vote, are doing especially well. Export orders “remained strong,” the CBI said.