Business News Asia
Final UK manufacturing PMI contracts in September as foreign demand declines
The S&P Global Final Manufacturing Purchasing Managers’ Index (PMI) rose to 48.4 in September from 47.3 in August, the lowest level in 27 months, while new orders fell for the fourth consecutive month due to weak foreign demand.
The final manufacturing PMI for September was below 50 for the third month in a row, indicating that UK manufacturing is contracting, and the PMI is also below the preliminary reading for it of 48.5.
“The export sector in September contracted the fastest since May 2020, with reports of a decline in demand from the US, EU, and China,” S&P Global said.
