UK manufacturing hits nine-month low in November, PMI drops to 48.0, signaling continued contraction.

UK manufacturing hit a nine-month low in November, with the PMI dropping to 48.0, signaling a second month of contraction. The decline stems from weaker domestic and international demand, delayed investments, and rising geopolitical tensions. The recent UK budget, which includes £40 billion in tax hikes, has also contributed to budget reassessments. Supply chain issues have worsened, with longer delivery times and rising costs, creating an uncertain outlook for manufacturers.

December 02, 2024
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