UK manufacturers growing wary of investment in wake of Brexit vote

Data from the EEF (formerly the Engineering Employers" Federation) reported in the UK Telegraph over the weekend:

• Manufacturers are reining in their investment plans because of Brexit


• Unwilling to take on loans to fund new equipment


• Preferring to build up their cash reserves


• Members planning to increase spending has halved to just 5% compared with two years ago


• 60% of members said they would spend the same or less over the next two years (compared with 51% who gave the same answer two years before)

Lee Hopley, chief economist at EEF:

• "Fears of an immediate collapse in business investment appear to be unfounded for now"

Link for more

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GBP is retracing some of its opening drop, updates:

UK manufacturers growing wary of investment in wake of Brexit vote
UK manufacturers growing wary of investment in wake of Brexit vote
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