UK manufacturing faces sharpest decline in orders since pandemic, CBI reports.

UK manufacturing is facing its sharpest decline in orders since the early days of the pandemic, according to the Confederation of British Industry (CBI). Optimism among manufacturers hit a two-year low in January, with orders and output volumes dropping significantly. The decline is partly attributed to increased taxes and regulatory changes, including higher National Insurance contributions. The CBI warns that further reductions in investment and hiring are expected, amid concerns over weak domestic and international demand.

2 months ago
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