Manufacturing sector confidence slumps

Confidence among manufacturing firms has slumped to its lowest level for over a year, a new study suggests. Research by business advisers BDO LLP indicated a “concerning turnaround” in the fortunes of the sector. Manufacturers are at the sharp end of a general slowdown in global trade, as well as a Brexit-induced reluctance from European firms to source components from the UK, said the report. Peter Hemington of BDO LLP said: “A lack of clarity on the shape of Britain’s future trading relationships has caused a general weakening of business optimism.”