UK Manufacturing PMI: Industry downturn continues amid low demand, high costs

Stock image - worker grinding casting in manufacturing facility. Image credit: Shutterstock

The UK manufacturing industry contracted further in November, as firms witnessed their output fall amid low demand and high costs, according to the latest S&P Global / CIPS UK Manufacturing PMI®.

November 2022 UK Manufacturing PMI key findings: Intermediate goods remains weakest performing sector Business sentiment dips to lowest since April 2020 Input price inflation eases to three-month low

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Despite edging up slightly from 46.2 in October, November’s PMI figure of 46.5 is still in contraction territory, the four month in a row that the sector…