Manufactuers 'face bleak winter'
Thursday 01 December 2011
Manufacturers are facing a "bleak winter" after suffering further falls in orders and staff levels in November, a survey revealed today.
The Markit/CIPS purchasing managers' index (PMI) survey, where a reading below 50 indicates a contraction, fell to 47.6 in November, down from 47.8 the previous month and its lowest since early 2009, when the UK was in recession.
The downturn in output accelerated in the month, leaving the sector on track to contract in the final quarter of 2011, as the eurozone debt crisis hit exports and confidence at home.
This triggered the biggest fall in employment for two years, with warnings of more cutbacks on the way unless order books pick up.
CIPS chief executive David Noble said: "It looks like it's going to be a bleak winter for UK manufacturers with the PMI showing very little to be positive about at the moment."
Rob Dobson, senior economist at Markit, added: "The manufacturing engine has run out of steam.
"The lack of new work is forcing manufacturers to rely on previously placed orders to avoid sharper cutbacks in output and employment.
"This cannot go on indefinitely, and job losses will inevitably mount if order books continue to weaken."
- 1 Tourist films plane's descent just metres above packed Caribbean beach
- 2 Indian woman creates 'Marriage CV' after parents put her on dating site: 'Definitely not marriage material. Won’t grow long hair, ever'
- 3 World Book Day: Boy 'excluded' from school after dressing up as Fifty Shades' Christian Grey
- 4 Bad Jews poster 'censored' on London Tube
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
Tourist films plane's descent just metres above packed Caribbean beach
Indian woman creates 'Marriage CV' after parents put her on dating site: 'Definitely not marriage material. Won’t grow long hair, ever'
Isis 'bulldozes' Nimrud: UNESCO condemns destruction of ancient Assyrian site as a 'war crime'
Professor Brian Cox brands astrology-believing Tory MP David Tredinnick an 'outlier on the spectrum of reason'
Lynch mob kills suspected rapist in India after dragging him naked for four miles through city
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Durham Free School: 'Creationism taught at' free school facing closure
End of the licence fee: BBC to back radical overhaul of how it is funded
Elif Shafak: Turkish author warns against rise of British nationalism
Ex-head of MI6: 'We shouldn't kid ourselves that Russia is on a path to democracy'
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
iJobs Money & Business
£13000 per annum: Recruitment Genius: This is an exciting opportunity to join ...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£12 - £15 Hourly Rate: Jemma Gent: In this role you will report to the Head of...
£8 per hour: Recruitment Genius: This Pension Specialist was established early...