Output among UK manufacturers contracted at the fastest pace for almost a year in November, highlighting weakness in the sector as it grapples with higher taxes and the risk of more trade barriers.
The S&P Global manufacturing purchasing managers’ index slipped to 48 last month, a nine-month low and down from 49.9 in October.
The downgrade from an earlier November reading of 48.6 signalled that factory output contracted quicker than first thought. Analysts had expected no revision. Any sub-50 figure means that activity has receded over the month.
New orders fell at the fastest pace since February as businesses reshaped investment projects amid uncertainty over the strength of demand in the UK economy and rising geopolitical tensions.
S&P Global also said that firms tweaked the