UK manufacturers cut jobs at fastest rate since 2012
Topics: MANUFACTURERS JOBS UK
The IHS Markit/CIPS manufacturing Purchasing Managers' Index (PMI) sank to 48.9 in November from 49.6 in October, a slightly smaller decline than an initial flash estimate of 48.3.
But the PMI stuck below the 50 level that divides growth from contraction for a seventh consecutive month, the longest such run since 2009, as the country headed for an early election on Dec.
12 intended to end a parliamentary logjam over Brexit.
"November saw UK manufacturers squeezed between a rock and hard place, as the uncertainty created by a further delay to Brexit was accompanied by growing paralysis ahead of the forthcoming general election," IHS Markit economist Rob Dobson said. ■