Brexit stockpiling masking scale of manufacturing decline

IMechE | February 11, 2019

Brexit stockpiling masking scale of manufacturing decline
Pre-Brexit stockpiling is likely to be masking the true scale of a fresh decline in the manufacturing sector, the organization behind a new report has warned. An output is at its lowest point since October 2017 after a stuttering start to 2019, according to research from accountants and business advisors BDO LLP.
The firm’s manufacturing index, which tracks business output growth, fell by 0.23 points to 98.37 in January. The decline points to an underlying weakness in the sector despite manufacturers ramping up preparations for a disorderly Brexit, the firm said. It also claimed that stockpiling activity masked an even greater fall in output than suggested by the figures.

Spotlight

Global markets often drive original equipment manufacturers (OEMs) to outsource on a global scale as well. In some cases, the outsourcing strategy puts production near end markets to reduce time to market and logistics costs. In other cases, the goal may be to reduce cost by keeping manufacturing in a low-cost labor market.

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