The UK's manufacturing sector continues to face challenging conditions as the S&P Global/CIPS UK Manufacturing Purchasing Managers' Index (PMI) slipped to 47.3 in December, marking a further decrease from November's reading of 48.0. Updated on December 16, 2024, this latest figure highlights ongoing contraction in the sector as it remains below the neutral 50.0 threshold, indicating a reduction in manufacturing activity.
Throughout December, manufacturers faced headwinds amid global supply chain disruptions and fluctuating demand, which contributed to the PMI's declining trajectory. Businesses reported lower output and new order volumes, as well as heightened caution regarding inventory levels. According to insights from the PMI survey, these factors, combined with economic uncertainties, are continuing to weigh heavily on the sector's performance.
The data reinforces worries about the manufacturing industry's near-term outlook. Industry leaders and policymakers are closely monitoring the situation, evaluating potential interventions to bolster the sector. As UK manufacturers navigate through these turbulent times, attention will focus on strategies to mitigate challenges and stimulate recovery in the months ahead.
The material has been provided by InstaForex Company - www.instaforex.com
Throughout December, manufacturers faced headwinds amid global supply chain disruptions and fluctuating demand, which contributed to the PMI's declining trajectory. Businesses reported lower output and new order volumes, as well as heightened caution regarding inventory levels. According to insights from the PMI survey, these factors, combined with economic uncertainties, are continuing to weigh heavily on the sector's performance.
The data reinforces worries about the manufacturing industry's near-term outlook. Industry leaders and policymakers are closely monitoring the situation, evaluating potential interventions to bolster the sector. As UK manufacturers navigate through these turbulent times, attention will focus on strategies to mitigate challenges and stimulate recovery in the months ahead.
The material has been provided by InstaForex Company - www.instaforex.com