In early 2024, the UK manufacturing sector continued its decline, though at a slightly reduced rate, amid supply chain disruptions and job losses due to the Red Sea crisis.

The UK manufacturing sector continued to decline in early 2024, with the latest reading from the S&P Global/CIPS UK manufacturing PMI survey indicating that the rate of decline slightly reduced. However, the survey results showed that the sector is still contracting, impacted by supply chain disruptions including rerouted deliveries due to the Red Sea crisis. Job losses and cutbacks in purchasing and stock holdings were also reported.

February 01, 2024
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