"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 latest fall in the manufacturing PMI reversed a three-month upward trend with a sharp fall in new orders dragging down the headline figure. We tend to see a slight drop-off in new orders seasonally as the summer holidays hit, but the fall this year was sharper than previous years. Hopefully it's a seasonal blip and we will see further signs of a recovery later in the year."
The S&P Global UK manufacturing PMI dropped to 47.0 in August from 48.0 in July, signaling contraction. New orders fell steeply, contracting at their fastest pace in four months as client confidence weakened. Market participants linked the decline to weak market conditions and US tariffs. Factory headcounts fell for a tenth consecutive month, with job cuts reaching one of the largest post-pandemic extents. The decline reversed a three-month upward trend and was amplified by a sharper-than-usual seasonal drop in orders during the summer holidays, with hopes that the fall may be temporary and recovery could occur later in the year.
Read at London Business News | Londonlovesbusiness.com
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