A new report from the IHS Markit/CIPS Purchasing Managers’ Index (PMI) revealed the biggest decline in the manufacturing sector in two years. The index showed that the manufacturing sector fell to 51.1 this October, down from 53.6 in September.
According to Jason Chester, Director of Channel Programmes for InfinityQS: “The report is indicative of what we are seeing across the manufacturing sector. Economic uncertainty fuelled by the lack of a final agreement on Brexit (despite Britain’s departure from the European Union being months away), in conjunction with the gradual decline of high-street retailers and a contracting construction sector is having a negative effect on supply-chain demand and restricting further growth.
