UK business morale slides, especially in manufacturing

British business activity wilted in the third quarter, especially in manufacturing, according to a survey on Friday (4 October) that boded poorly for the country’s economy in late 2019 as it faces the Brexit crisis and a global slowdown.

The British Chambers of Commerce’s (BCC) survey of 6,600 companies showed domestic manufacturing sales fell at the fastest pace since late 2011. Growth in the much larger services sector also slowed.

Overall, the survey chimed with other signs of a sharp deterioration in business confidence in Britain as the 31 October Brexit deadline nears with little clarity on how or if the country will leave the European Union.

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