UK factory output tumbles to lowest level in nearly three years
by Larry Elliott Economics editor from on (#6E2AP)
CBI data showing slowdown in activity is latest sign Bank interest rate rises are slowing economy
UK factory output has fallen sharply over the summer to its lowest level in nearly three years in the latest sign that interest rate increases by the Bank of England are slowing the economy.
The monthly snapshot of manufacturing from the CBI showed production at its weakest since the economy was emerging from its first Covid lockdown in 2020.
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