Manufacturers’ organisation halves forecast for sector as economic slowdown in far east compounds export woesThe economic downturn in China has compounded pressures on UK manufacturers and hit their output and exports,a main commerce group will warn on Monday as it slashes its outlook for the sector.
Sales to the domestic consumer market and booming car production hold not been enough to make up for a drop in overseas demand, says the manufacturers organisation EEF. Those manufacturers making mechanical equipment hold been particularly hard hit as waning orders from China coincide with flagging demand from the oil and gas sector, or itself hit by a plunging oil price.
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Source: theguardian.com