Commenting on today’s PMI data, Seamus Nevin, Chief Economist at Make UK, the manufacturers’ organisation, said:
“Global markets have been having a rough time recently and, in that context, today’s disappointing news of further falls in output, new orders – especially from UK based customers - and more job losses should not be a surprise. Job cuts have happened for the seventh consecutive month with the rate of decline among the sharpest in a decade.
“Many manufacturers had some form of shutdown planned, while others were engaged in expensive stock building activities in preparation for potential no deal shocks to their supply chain. This together with the continued Brexit and now electoral uncertainty means there is no end in sight to the roadblocks industry is facing.”