UK Manufacturing PMI: Industry downturn deepens further in August

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The UK manufacturing industry's downturn deepened in August, with output and new orders registering some of the steepest contraction rates outside of events such as the global financial crisis or COVID-19 pandemic, according to the latest S&P Global / CIPS UK Manufacturing PMI®.

August 2023 UK Manufacturing PMI key findings: Manufacturing PMI at 39-month low of 43.0 Demand hit by weaker domestic and export conditions Purchase prices fall at quickest pace since January 2016

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August saw the seasonally adjusted UK Manufacturing PMI fall to 43, down on July’s reading of 45.3 and its lowest level since May 2020.…