The Contract Manufacturing Index (CMI) for the final quarter of 2019 showed a further deterioration in the UK subcontract manufacturing market. It fell 23% from what had already been a poor third quarter. Overall the market was 56% down on the final quarter of the previous year.
The Office for National Statistics said monthly gross domestic product declined 0.3% in November, after growth in the previous two months. The UK economy slid into decline in November on the back of weakness in the manufacturing sector, according to official figures. The Office for National Statistics (ONS) said monthly gross domestic product (GDP) declined 0.3% in November, after growth in the previous two months. Economists had predicted that the economy would remain flat with zero growth for the month.
Scottish manufacturing firms last month suffered their sharpest drop in new orders since 2009, a survey has found.
The latest findings from the RBS Purchasing Managers Index (PMI) were accompanied by reports of weak demand and continued uncertainty. The PMI also showed overall business activity stagnated in December.
“We’re working longer but producing less than the rest of the economy – what’s going wrong?” asks Martin Hurworth, business leader and former managing director of Harvey Water Softeners.
Recently we got a taste of how much work there is still to do to improve the fortunes of our manufacturing industry, thanks to the latest ONS figures on UK productivity.