UK factory production sees longest downturn since 2008 financial crisis

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UK factory production sees longest downturn since 2008 financial crisis
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The speed at which the manufacturing industry is shrinking slowed slightly in October, according to a closely watched PMI survey.

Weak demand on British shores and overseas has led to fewer orders for manufacturers, the report said

Weak demand on British shores and overseas has led to fewer orders for manufacturers, the report said. Rob Dobson, director at S&P Global Market Intelligence, said: “The UK manufacturing downturn continued at the start of the final quarter of the year, meaning the factory sector remains a weight dragging on an economy already skirting with recession.

It suggests businesses are looking to shore up cash as they report having spare capacity from taking on less new work and clearing backlogs, the survey found.

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