The UK manufacturing sector continued to feel the reverberations of the unwinding of earlier pre-Brexit stockpiling activity during June. The already high stock levels at both manufacturers and their clients led to a scaling back of output and new order intakes, with demand from both domestic and export markets weakening. At 48.0 in June, down from 49.4 in May, the headline seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index® (PMI®) fell for the third consecutive month to its lowest level since February 2013. The PMI has posted below the no-change mark for two months in a row, the first backto-back ... (full story)