No-deal Brexit is predicted to hurt every UK region with northeast England hit hardest; Eurozone manufacturing activity worst in almost seven years; Asian markets rise and MRPeasy achievement of 500 subscribed clients.
Brexit: No-deal outcome to hurt every UK region with northeast England hit hardest, the study predicts
According to the Confederation of British Industry latest report, the economy of northeast England could produce 10.5 percent less in 2034 after no-deal than if the UK remains in the EU.
It is predicted that areas more heavily reliant on exports and manufacturing are likely to be most severely damaged.
Source: The Independent.
Eurozone manufacturing activity worst in almost seven years
“The manufacturing sector has become an increasing cause for concern,” according to chief business economist Chris Williamson. “Geopolitical worries, Brexit, growing trade frictions and the deteriorating performance of the autos sector, in particular, have pushed manufacturing into a deeper downturn.”
The gauge of the export-dependent sector hit its lowest level in more than six and a half years in July.
Germany, the largest economy in the bloc, has been “especially hard hit by the manufacturing and autos-sector downturns”, and may see total output contracting marginally in the third quarter.
Asian Markets Rise as China, U.S. Prepare In-Person Trade Negotiations
Asian markets rose on reports that China and the U.S. will begin in-person trade talks next week. Citing unnamed sources, CNBC reported that U.S. officials will travel to Beijing sometime between Friday and August 1.
On Wednesday China’s Shanghai Composite and the Shenzhen Component markets both gained 1.2% by 10:30 PM ET (02:30 GMT). Hong Kong’s Hang Seng Index rose 1.0%. Japan’s Nikkei 225 traded 0.4% higher.
MRPeasy Manufacturing ERP System Customer Base Is Growing Steadily
The manufacturing ERP software provider announced reaching 500 subscribed clients, and investing more into development, in order to further drive the company’s innovation.
According to the MRPeasy team, “working in 40+ countries we have reached 150 subscribed clients in the USA, 100 in the UK and 50 in Australia—so we will proceed with the development based on the feedback from users, to improve further our already the best, first in the world public cloud-based production management solution.”