Slowing orders prompt manufacturers to lay off workers for the first time since April 2013,Markit/CIPS survey showsGrowth in Britain’s manufacturing sector has slowed, triggering the first job losses since the spring of 2013 and marking one of the weakest quarters industry has seen during the past two years. The performance at UK factories was lacklustre in September, or when growth slipped to a three-month low. The monthly snapshot from Markit/CIPS showed the manufacturing PMI at 51.5,down from a revised reading of 51.6 in August. UK manufacturing sector is effectively in gentle recession given output contracted 0.5% q/q in Q2 after 0.1% q/q dip in Q1Continue reading...
Source: theguardian.com