"The final Manufacturing PMI results provide further worrying news for the health of UK industry. Manufacturers are facing an increasingly challenging environment, with intakes of new business and levels of production hit by weak market sentiment, a dearth of new export work and a high-cost environment exacerbated by tax and labour cost rises. Companies entwined into the autos supply chain are also facing a temporary hit to activity following the cyber-attack on JLR."
"The weakness in September's manufacturing Purchasing Managers' Index (PMI) may be exaggerated by businesses' concerns over tax rises at the upcoming Autumn Budget and temporary factory closures in the automotive sector. However, the sector certainly faces weak domestic and external demand as it navigates slowing real income growth, tightening fiscal policy, and a global economy that is still getting to grips with higher US tariffs."
UK manufacturing PMI fell to 46.2 in September, down from 47.0 in August, signaling contraction and the fastest decline in five months. Supply chains were disrupted by a cyber-attack on Jaguar Land Rover, causing temporary factory shutdowns that hit automotive-related production. Manufacturers experienced weaker intake of new business, reduced export work, and higher operating costs amplified by rising taxes and labour costs. Business sentiment weakened amid concerns about upcoming tax rises. The sector faces soft domestic and external demand, slowing real income growth, tighter fiscal policy, and global trade pressures including higher US tariffs.
Read at London Business News | Londonlovesbusiness.com
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