Manufacturers cutting back on spending amid fears over Brexit

Growth highest in a year but firms are failing to invest in skills and products, says CBI

A pick-up in the pace of manufacturing growth to its fastest in a year has failed to prevent a fall in investment as firms mothball spending plans amid concerns over Brexit.

The latest snapshot of industry from the Confederation of British Industry found that despite mounting skills shortages and capacity constraints, companies were cutting back on product development and training at a rate not seen since the economy was in recession in 2009.