Brexit stockpile record

BRITISh factories are stockpiling goods at the fastest pace since records began in the 1950s as they scramble to plan for Brexit.

A quarterly survey from the Confederation of British Industry (CBI) showed factories are buying up unprecedented stocks of raw materials, part-finished and finished goods.

Although this gave manufacturing a temporary boost early this year, businesses are bracing for a lull in the rest of 2019.

The survey adds to signs that Brexit – which was meant to take place on March 29 but has been pushed back to halloween at the latest – and a slowdown in the global economy is causing a headache for British manufacturers.