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U.K. Manufacturing Outlook Slumps to Worst Since Brexit Vote

  • Pessimism deepens as firms plan to scale back investment: CBI
  • Warning comes amid Brexit fears, slowing global growth
Brexit Stockpiling At Tharsus Ltd. Robotics Factory
Photographer: Matthew Lloyd/Bloomberg

U.K. manufacturers are more pessimistic than at any time since the Brexit referendum, according to the Confederation of British Industry.

The lobby group’s index of confidence slumped to minus 23 this month, the weakest level since the aftermath of the 2016 vote to leave the European Union, a survey published Wednesday showed. Export prospects hit their lowest since the financial crisis and firms plan to spend less on investment than they did in 2018.