(Sharecast News) – The downturn in the UK manufacturing sector eased in November, according to a survey released on Friday.
The S&P Global/CIPS manufacturing purchasing managers’ index rose to 47.2 from 44.8 in October. This marked the third monthly increase in a row and the highest level since April. However, it remained below the 50.0 mark that separates contraction from expansion.

All five of the PMI components – new orders, output, employment, suppliers’ delivery times and stocks of purchases – remained at levels consistent with a deterioration in operating conditions, albeit to lesser extents than in the previous month.

Rob Dobson, director at S&P Global Market Intelligence, said: “Although the downturn in production eased sharply in November, the latest PMI report brings little festive cheer when the finer details are considered. With new order inflows and exports continuing to fall sharply, and clients destocking, a sustained meaningful growth revival still looks elusive. Manufacturers are preparing for tough times ahead, with their continued caution leading to cutbacks in staffing, inventories and purchasing.

“The underlying sector dynamics further highlight how this combination of high uncertainty and low confidence is impacting performance. The latest scaling back of production was mainly driven by weak business-to-business and capital spending, as output and new orders contracted in both the intermediate and investment goods sectors. In contrast, activity posted a solid uptick at consumer-facing manufacturers.”

Related articles

Aldi and Lidl win UK Christmas battle

Aldi and Lidl win UK Christmas battle

(Sharecast News) - German discounters Aldi and Lidl performed best in December, according to data from retail expert Kantar, which said a record £13.7bn was spent at British supermarkets over the four weeks ended 24 December. Kantar recorded Lidl's sales growth at...

UK house prices fall 1.8% YoY in December – Nationwide

UK house prices fall 1.8% YoY in December – Nationwide

(Sharecast News) - UK house prices fell by a higher-than-expected 1.8% year on year in December, mortgage lender Nationwide said on Friday, as higher borrowing costs and deposit requirements deterred buyers. Expectations were for a 1.4% fall. Prices remained flat on a...

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!