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STOCKPILING AN EFFECT OF NO-DEAL BREXIT POSSIBILITY
British manufacturers are stockpiling goods at near record rates in preparation for a no-deal Brexit, the Irish Examiner reported. Calling the possible event "calamitous," the source cited that the Markit/CIPS UK manufacturing purchasing managers’ index was 54.2 in December 2018, higher than the 53.6 recorded the previous month and marking a six-month high. (A figure above 50 indicates growth, and economists were expecting 52.5.) Uncertainties regarding Brexit disruption on supply chains and the exchange rate are also weighing on business confidence, and firms cited Brexit and exchange-rate uncertainties as weighing on their outlook for 2019.
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