New data from IHS Markit shows that supply chains for manufacturing firms in the UK have come under “severe pressure” this month ahead of the end of the Brexit transition period. Duncan Brock, group director at the Chartered Institute of Procurement & Supply (CIPS), commented: “Many essential materials were not getting through.
Manufacturing companies were also paying the price of goods shortages.” He also noted that this month saw “the highest rise in cost inflation since June 2018 as shipping and commodity prices soared.” Longer waiting from suppliers were “overwhelmingly linked to freight delays following congestion at UK ports,” CIPS stated.
Read more: City AM
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