UK manufacturers' job cut fastest since 2012 as Brexit concerns mount

Topics UK jobless rate | Brexit

British manufacturers cut jobs last month at the fastest rate since 2012, a survey showed on Monday, as pressures from Brexit and a global trade slowdown caused the sector's longest decline since the financial crisis. The IHS Markit/CIPS manufacturing Purchasing Managers' Index (PMI) sank to 48.9 in November from 49.

6 in October, a slightly smaller decline than an initial flash estimate of 48.3. But the PMI stuck below the 50 level that divides growth from contraction for a seventh consecutive month, the longest such run since.

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