Manufacturing in worst decline for six years
The UK manufacturing sector continued to feel the reverberations of the unwinding of earlier pre-Brexit stockpiling activity, suffering its worst month since 2013 in 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 l... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...