UK manufacturing shrinks amidst fears over election, Brexit and a weakening demand for goods

by

UK manufacturing shrinks at its fastest pace in almost seven-and-a-half years as businesses reel from political and economic uncertainty

By A Daily Mail Reporter

Published: | Updated:

UK manufacturing shrank at its fastest pace in almost seven-and-a-half years as businesses reel from political and economic uncertainty, a survey suggests.

The IHS Markit/CIPS Purchasing Managers’ Index was 47.5 in December, down from 48.9 in November. Anything below 50 is seen as a contraction. It was the eighth successive month of decline.

The weak demand for goods was exacerbated by clients running down the stockpiles they had built up ahead of Brexit.

Duncan Brock, group director at CIPS, said: ‘Production levels sank at their fastest levels since July 2012, with no sign of recovery.’

 

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.