UK Manufacturing Faces More Headwinds As Overseas Spending Cools ...Middle East

Britain’s factories have plunged further into recession territory, driven by domestic and foreign buyers reining in spending amid intense economic uncertainty, a closely watched survey out today shows. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) purchasing managers’ index (PMI) for the UK’s manufacturing industry slipped to 46.5 in June from 47.1 in May. It means the sector has been in the sub 50 point negative growth territory for 11 months in a row, although the reading was upgraded from…

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