US Manufacturers Worry About Brexit's Impact On The Industry
Prior to Brexit, American manufacturing plants were headed toward recovery thanks to a stronger dollar and diving oil prices.
A recent survey released by Institute for Supply Management showed that factories were boosting production and punching out orders last month—but that was before the UK’s vote to leave the EU.
Though American factories aren’t drowning in UK customers, it’s the collateral damage that causes factory owners concern. Most are worried about the volatile global market—though somewhat on the mend—that could cause sales to slip, undercutting US consumer spending, Bloomberg reports.
But if the market reactions from this week are any indication, US factories have nothing to worry about. [Bloomberg]