The UK’s manufacturing sector is engulfed in the deepest downturn since the 2008 financial crisis as market uncertainty depresses activity, a closely watched survey suggests. According to the Chartered Institute of Procurement & Supply (CIPS) the UK manufacturing purchasing managers index (PMI) recorded 44.
8 in October, with the 50 mark separating growth from contraction. Although this was an improvement on last month’s figure of 44.3, it was revised down from last week’s initial October estimate of 45.2. This meant production…UK Manufacturing Faces Worst Downturn Since 2008
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