The United Kingdom's manufacturing sector slowed further in December, hitting an 11-month low with a score of 47.0, dropping from last month's figure of 48.0, the S&P Global revealed in its report on Thursday.
According to the report, output, new orders, and employment in the manufacturing sector contracted at an accelerating pace in the reported month.
"A stalling domestic economy, weak export sales and concerns about future cost increases led to the steepest contraction of UK manufacturing production for almost a year in December," S&P Global Market Intelligence Director Rob Dobson commented. "The new Government's rhetoric and announced policy changes dampen confidence and raise costs at UK factories and their clients alike," he added.
