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UK manufacturing sector slumps at fastest rate in 8 years

Christian Fernsby ▼ | April 1, 2020
UK manufacturing output and new orders have declined at the fastest rate in eight years due to the coronavirus pandemic, according to a survey of business leaders.
UK workers
UK workers   IHS Markit closely watched purchasing managers’s index
Data provider IHS Markit said on Wednesday its closely watched purchasing managers’s index (PMI) for the manufacturing sector fell to 47.8 in March.

Topics: Manufacturing UK

The index is measured on a scale of 0 to 100, with anything above 50 signalling growth and anything below signalling contraction. It slipped into contraction from a reading of 51.7 in February.