Commenting on the IHS Markit/CIPS UK Manufacturing PMI data released today, Stephen Cooper, Partner and UK head of industrial manufacturing, said:
“There is a bit of back to school dread about the latest UK Manufacturing PMI figures, which paint a very disappointing picture given it marks a 25-month low. Optimism has fallen whilst job creation is virtually at a standstill, with cuts by larger businesses neutralised by job growth in SMEs.
“Together with export orders – also at a 25 month low despite continued sterling weakness – these figures are particularly concerning against the backdrop of global trade wars and increasing uncertainty around Brexit – both of which will be weighing on businesses.”
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