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Manufacturing job losses 'at six-year high'

UK manufacturers are cutting jobs at the fastest pace for six years with confidence in the sector hit by Brexit uncertainty, according to a closely-watched survey.
The research, by IHS Markit/CIPS, also found that companies stockpiled raw materials at a record pace last month.
While firms' output continued to grow, this came as they built up stocks of finished goods ahead of Brexit.
It also said growth in new orders slowed to "near stagnation".
The Purchasing Managers' Index (PMI) for the manufacturing sector slipped to 52.0 in February, from 52.8 the month before. A figure above 50 indicates expansion.
Duncan Brock, group director at the Chartered Institute of Procurement & Supply (CIPS), which helped to produce the survey, said: "The UK manufacturing sector continues to suffer the slings and arrows of outrageous fortune as the harsh realities of Brexit uncertainty, challenges in the global economy and a weak pound affected confidence, jobs and overall activity.
"Though the index number remained steady above the 50 mark, the underlying reasons for its steadfastness were less encouraging.
"Firms said they were stockpiling raw materials and finished goods to keep their businesses viable in the coming months."
https://www.bbc.co.uk/news/business-47414916
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