UK manufacturing contraction worsened in December as output, new orders, and employment declined at faster rates due to subdued demand conditions both domestically and internationally impacted by price pressures and increased market volatility, final results of the purchasing managers' survey by S&P Global showed Tuesday.
The S&P Global/Chartered Institute of Procurement & Supply manufacturing Purchasing Managers' Index fell to a 31-month low of 45.3 in December from 46.5 in November. The index has remained below the neutral 50.0 mark for five successive months. Nonetheless, the score was above the flash estimate of 44.7.
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