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UK manufacturing jobs cut at fastest rate since 2020 due to rising costs, weak demand.
UK manufacturing jobs are being cut at the fastest rate since 2020, with the S&P Global UK manufacturing PMI survey showing a reading of 46.9 in February.
This marks five consecutive months of contraction due to rising costs from increased employer taxes and minimum wage hikes, set to take effect in April.
Factories are implementing redundancies and reducing working hours, while also facing weak demand and supply chain issues.
Despite these challenges, business optimism reached a six-month high in February, fueled by investment spending and hopes for economic improvement.
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Los puestos de trabajo en el sector manufacturero del Reino Unido se redujeron a un ritmo más rápido desde 2020 debido al aumento de los costes y a la débil demanda.