Manufacturing PMI in December at 11-month low as government policy ‘dampens confidence and raises costs’
Manufacturers in the UK cut back output last month at the fastest rate since February, compounding the gloomy picture for the British economy, according to a closely watched survey.
The purchasing managers’ index for manufacturing fell to 47, down from 48 in November – the weakest for 11 months. Any reading below 50 signals a contraction.
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