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British exporters reporting export bounce from lower pound

November 01, 2016 07:54 AM

LONDON (AP) — A closely watched survey of activity in Britain's manufacturing sector shows that the pound's slide since the country voted to leave the European Union is beginning to have a positive impact on exports.

In its monthly assessment of the sector, financial information company Market, in association with an industry body, the Chartered Institute for Procurement and Supply, said manufacturers have reported a pick-up in new orders from the U.S., the EU and China.

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Since Britain voted to leave the EU on June 23, the pound has fallen around 20 percent across many currencies.

On Tuesday, the pound was solid, trading back above $1.22 as traders breathed a sigh of relief that Bank of England Governor Mark Carney would be staying in post for an extra year through to mid-2019.

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(Copyright 2016 by The Associated Press. All Rights Reserved.)

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