Manufacturing PMI figures for March 2013 have revealed a contraction in UK manufacturing for the second successive month, as companies scaled back production due to poor domestic and overseas demand.
The Markit/CIPS Purchasing Manager’s Index (PMI) edged higher to 48.3 in March, an improvement on February’s four-month low of 47.9 but insufficient to raise the headline index back above the neutral mark of 50.0. UK manufacturers reported further declines in both production and new orders during the latest survey period. Lower output reported in the…
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