British factory output risks falling by more than half during the current quarter after 80% of manufacturers reported a collapse in orders due to the coronavirus, trade body Make UK said on Friday.
FILE PHOTO: Workers are seen as the sun sets behind a construction site in London, Britain, January 21, 2020. REUTERS/Henry Nicholls
Britain’s Office for Budget Responsibility said on April 14 that factory output could fall by 55% in the second quarter, as part of a scenario for the broader economy that showed a 35% plunge in total output if lockdown restrictions stay in place. A separate survey from the Confederation of British Industry showed that private-sector activity fell by the most since July 2009 during the three months to April, and that output expectations were the weakest on record.
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