LONDON (Reuters) – Optimism among smaller British manufacturers tumbled to a three-year low in July, hit by a slowing global economy and the Brexit crisis at home, although consumers remain relatively upbeat, surveys on Wednesday showed.
The Confederation of British Industry’s (CBI) gauge of optimism among small- and medium-sized (SME) manufacturers fell to -28 from -12 in April, its lowest level since July 2016, just after Britain voted to leave the European Union.
Indicator - Consumer - Confidence - Market - Research
A separate indicator of consumer confidence from market research company GfK rose unexpectedly in July to -11 from -13 in June, beating all forecasts in a Reuters poll of economists but broadly in line with its range this year.
Overall, the two figures chimed with other data that show deep pessimism in British businesses about the outlook but resilience among consumers.
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Both surveys were conducted before Boris Johnson won the contest to become British prime minister on July 23 with a promise to leave the European Union on Oct. 31, with or without a deal.
“With orders falling and output and headcount...
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