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		</div><p>British manufacturers are stockpiling goods at near record rates in preparation for a calamitous no-deal Brexit.</p>
<p>The Markit/CIPS UK manufacturing purchasing managers’ index (PMI) showed a reading of 54.2 last month, higher than the 53.6 recorded in November, and a six-month high.</p>
<p>A figure above 50 indicates growth and economists were expecting a reading of 52.5.</p>
<p>“Manufacturers linked increases in both domestic and overseas demand to clients purchasing to build up safety stocks to mitigate potential Brexit disruption,” IHS said.</p>
<blockquote><p>Uncertainties regarding Brexit disruption on supply chains and the exchange rate are also weighing on business confidence</p></blockquote>
<p>Businesses importing goods from the EU will face severe disruption in the event of a no-deal Brexit, which is looking ever more likely.</p>
<p>The survey showed that uncertainty over the impact of Brexit influenced manufacturers’ purchasing activity, stock levels and business confidence in December.</p>
<p>Buying volumes increased as companies implemented plans to reduce supply-chain disruption if Britain crashes out of the EU without a deal.</p>
<p>As a result, inventories rose at the fourth-fastest rate in the survey’s 27-year history and a rise in finished goods stocks in December was the second-strongest since the survey began in 1992.</p>
<p>Rob Dobson, director at IHS Markit, which compiles the survey, said: “December saw the UK PMI rise to a six-month high, following short-term boosts to inventory holdings and inflows of new business as companies stepped up their preparations for a potentially disruptive Brexit.</p>
<p>“Stocks of purchases and finished goods both rose at near survey-record rates, while stock-piling by customers at home and abroad took new orders growth to a ten-month high.”</p>
<p>Firms also cited Brexit and exchange rate uncertainties as weighing on their outlook for the year ahead.</p>
<p>J“Uncertainties regarding Brexit disruption on supply chains and the exchange rate are also weighing on business confidence. Although manufacturers forecast growth over the coming year, confidence remains at a low ebb,” Mr Dobson added.</p>
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