UK August final manufacturing PMI 47.0 vs 47.3 prelim | investingLive
- Prior 48.0
Key Findings:
- Further mild contraction of production volumes
- Job losses registered for tenth consecutive month
Comment:
Rob Dobson, Director at S&P Global Market Intelligence
“Production volumes are still showing resilience in the
face of global geopolitical uncertainty and US tariff
policies, with both July and August having seen only slight
contractions that were milder than those suffered earlier
in the year. Business confidence has also lifted to a six-
month high, reflecting hopes that the trading environment
is starting to settle down.
“However, August also saw a steep drop in UK
manufacturers’ new orders, with total order books and
overseas demand both falling at some of the fastest rates
seen over the past two years. Weak market conditions,
US tariffs and downbeat client confidence all contributed
to the dearth of new contract wins. Job cuts were also
reported for a tenth successive month, with factory
headcounts dropping to one of the greatest extents post-
pandemic.
“The outlook for the sector therefore clearly remains
very uncertain. With manufacturers fearing that possible
government policy decisions, including potential tax
increases, could further hurt their competitiveness in
domestic and export markets, the upcoming Budget will
likely prove very important in guiding business confidence
about the year ahead.”