LONDON, Jan 10 — British manufacturers are optimistic over the 2022 outlook but fear fresh Brexit fallout one year after the nation’s departure from the European Union, a survey showed today.
The survey concluded that manufacturers “are more positive about the growth outlook as they enter 2022, with greater confidence in the prospects for their own companies than either the global or UK economies”. Two thirds insisted Britain remained a “competitive location” for manufacturing, but the same proportion also stated leaving the EU had hurt their business.Britain formally left the EU single market and customs union at the start of 2021.
The manufacturing sector has also been hit by the ongoing global supply crunch — and soaring inflation caused largely by spiking energy costs.
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