LONDON (AP) — Further evidence has emerged that British manufacturers are building up their cushions against the possibility the country crashes out of the European Union without a deal.
Financial information firm IHS Markit found that Brexit stockpiling is giving a boost to production — at least temporarily.
According to the firm, its purchasing managers index for the sector rose to a 13-month high in March to 55.1, up three points from the previous month. Anything above 50 indicates an expansion in output.
Stockpiling has become increasingly prevalent over the past few months as Britain’s exit looms — originally scheduled for March 29 but since delayed at least to April 12.
Given the uncertainty, firms have stored up on raw materials and on those products they need from elsewhere in the EU.
