UK manufacturing has faced significant downturn, recording its seventh consecutive month of decreased output, compounded by diminishing demand from key trading partners like Europe, China, and the US. The S&P Global UK manufacturing PMI survey reflected a slight improvement, but still indicated contraction. The impact of sweeping US tariffs has created unpredictability in the market, leading firms to hesitate in making investment decisions, resulting in cost-cutting measures. Experts warn that the ongoing trade volatility is hampering growth and complicating recovery efforts in the manufacturing sector.
Surveyed manufacturers noted that US tariff announcements were having a noticeable impact on global markets as trading partners adapt to increased trade volatility.
While actual changes in trade have been limited, the unpredictability, particularly around US tariff policy, is doing significant damage and paralysing decision makers.
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