The UK manufacturing sector ended 2023 on a weak footing. The downturn in production volumes accelerated as intakes of new work from both domestic and export clients declined. The further slide in output volumes reflected overstocking at clients and tighter inventory policies at manufacturers. The support provided by efforts to clear backlogs of work was also less effective than in recent months. The seasonally adjusted S&P Global UK Manufacturing Purchasing Managers’ Index™ (PMI®) fell back to 46.2 in December, after rising to a seven-month high of 47.2 in November, staying beneath the neutral 50.0 mark for the ... (full story)