The downturn in the UK manufacturing sector deepened in December as production decreased the most since July 2012 in response to falling orders from both domestic and foreign markets.
The IHS Markit/Chartered Institute of Procurement & Supply factory Purchasing Managers' Index fell to 47.5 in December, the second-weakest level for almost seven-and-a-half years, final data showed Thursday.
Economists had forecast the index to fall to 47.4 in December, as initially estimated, from 48.9 in November. The PMI remained below the neutral mark of 50.0 in each of the past eight months. According to the IHS Markit survey, output contracted at the fastest pace since July 2012 due to the weakness in intermediate and investment goods production.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.