(MENAFN) In more than three years, British manufacturing reduced in its fastest speed, as reported by a survey, adding to signs that the Brexit is hurting growth.
As a result to this, the Bank of England (BOE) should take more drastic measures in cutting interest rates on August 4, but most of its policymakers were leaning towards stimulus in August.
Moreover, the productivity index decreased to 47.8% in July from 53.6% in June, which is the lowest since October 2012.
After the Brexit vote, despite its recovery, Sterling fell to a 31-year low against US dollar.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.