Daily Management Review

Recent Survey Notes 41% Manufacturers Of Britain Under Negative Impact Due to Brexit Process


08/30/2017


There are hopes that the fallen performance graph of the industry will soon take an upward turn, while most opt for “free trade agreement” with the E.U. after Brexit.



According to a survey of the industry, Reuters reports that the Brexit process has already begun to hurt almost 40% of the small to medium scale manufacturers of Britain. The “SWMAS and Economic Growth Solutions” in its “quarterly National Manufacturing Barometer”, like “other surveys”, demonstrated “robust manufacturing activity” taking place right now, although a shadow of nervousness regarding the future has been noted.
 
There are hopes that the small to medium manufacturers will improve their performance over the period of next six months. However, a “similar proportion” thinks that the condition is only going to get worse following Britain’s exit from the E.U. In the words of the C.E.O of Exelin Group, Simon Howes:
“SME manufacturers are sending a clear message to government. The vast majority want to see free trade with the EU maintained to help minimise the cost of imports and keep red tape to a minimum”.
“Some manufacturers are already seeing the cost of materials rise due to recent falls in the value of sterling against the euro and uncertainty over the future of the UK’s trade arrangements with the EU.”
 
Moreover, the survey also showed that 41% of the manufacturers are already facing “negative impact” due to the process of Brexit. 50% of the survey respondents’ priority was a “free trade agreement with the European Union”. While, Reuters reminded:
“Earlier this month Britain outlined plans for a future customs agreement with the EU and an interim deal to ease companies’ Brexit concerns”.
 
However, as per a senior E.U. official such suggestions could only be “fantasy”. In fact, in comparison to the previous quarter there has been a drop in the “SME manufacturers’ investment intentions”. While, the “latest official data” reveals that the Bank of England has its hope on sources “net trade and investment” to grow and “compensate for the consumer-led slowdown”.
 
 
References:
reuters.com







Science & Technology

Amazon’s Ring gets in a privacy scandal

Facebook Is Creating A Stablecoin For Its WhatsApp Users

IBM offers to use the first quantum computer

Passport Numbers Of 5 Million Customers Hacked: Concedes Marriott

China Lifts Approval Freeze On New Video Games Launch

Concentrated Solar Plant System To Dispatch Electricity To The Grid On Demand

Unique Underground Transportation Tunnel Revealed By Elon Musk

Toyota is trying to revive demand for Prius

Deloitte: Smart speakers will show record sales in 2019

China takes the lead in quantum cryptography

World Politics

World & Politics

Macedonia ignites political crisis in Greece

Brazil turns right

Merkel’s Pledge Of A United Germany in 2019

Murder Suspects Of Jamal Khashoggi Put On Trial By Saudi Arabia

Japan is trying to save its population with robots and migrants

Germany closes the last coal mine

US launches investigation against Airbus

European regions with the most polluted air