Economics
U.K. Manufacturing Orders Fall at Fastest Pace Since 2009 Crisis
- CBI survey highlights gloomy outlook facing new prime minister
- Factory confidence at lowest ebb since 2016 Brexit referendum
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U.K. manufacturers are more pessimistic than at any time in the past three years after order books shrank at a pace last exceeded during the financial crisis a decade ago, according to the Confederation of British Industry.
The gloomy assessment adds to evidence that the economy suffered a Brexit hangover in the last quarter after orders were brought forward to the start of the year ahead of the original March 29 deadline to the leave the European Union.