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British fashion industry suffers due to Brexit

The British fashion industry is displaying signs of stress due to Brexit. A report by data firm IHS Markit reveals, the UK Services Purchasing Managers’ Index has indicated that Britain’s economy is set to grow just 0.1 per cent in the first three months of 2019 compared with the last three years.

As a result, retailers all over the nation are expected to suffer a shortage in staff, both in shops and warehouses. A new study by workforce management expert Quinyx in collaboration Development Economics and Censuswide found the shortage could have a significant impact on the UK retail sector.

Indeed, the yearly economic output of retail workers would be approximately £3.1billion lower by 2024 under a no-deal Brexit compared to an orderly Brexit scenario, representing a staggering 59 per cent decrease in output.