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UK manufacturing output and new orders contract as domestic and export markets remain weak
The end of the third quarter saw the downturn at UK manufacturers continue. Output, new orders and employment were all cut back further, amid weaker intakes of new work from both domestic and overseas clients. Although the outlook for the sector remained positive overall, with 55% of companies expecting growth over the coming 12 months, the level of optimism dipped slightly over the month. The seasonally adjusted S&P Global / CIPS UK Manufacturing Purchasing Managers’ Index® (PMI®) posted 44.3 in September, up slightly from August's 39-month low of 43.0, but still among the weakest readings seen over the past 14 ... (full story)