Companies said they were getting less new work and demand was weakening, all while they grappled with supply chain problems.
It meant that last month the S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) hit 52.1, down from 52.8 in June.
The index was still in growth – anything above 50 is considered to show an expansion – but only because of faster jobs growth and rising purchase stocks.
On the output side, it was the first time since May 2020 that the sector had contracted, mainly due to consumer and intermediate goods.
This story is from the August 02, 2022 edition of The Independent.
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This story is from the August 02, 2022 edition of The Independent.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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