trending Market Intelligence /marketintelligence/en/news-insights/trending/iufqJIkvA-ag1BpHcRxmTw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

UK factory activity extends slump in July

Key Credit Risk Factors When Assessing Banks In The Context Of COVID-19

Paypal Well-Positioned To Gain Share In COVID-Related Digital Payments Shift

Street Talk Episode 61 - Investors debate if U.S. banks have enough capital in post COVID world

You Down With PPP? Consider The Risks

UK factory activity extends slump in July

The U.K.'s manufacturing activity contracted for the third straight month in July and remained at its worst level since February 2013, according to a survey by IHS Markit and the Chartered Institute of Procurement & Supply.

The headline seasonally adjusted purchasing managers' index came in at 48.0 in July, unchanged from June and still below the neutral 50.0 mark. The consensus estimate of economists polled by Econoday was for a reading of 47.7.

The decline in manufacturing production was the steepest in seven months as firms scaled back output. Demand from domestic and overseas markets fell, with weaker new export business reflecting lower intakes from the EU and China.

Companies attributed the weakness to ongoing uncertainties and the global economic growth slowdown. They also noted a rerouting of supply chains away from the U.K. ahead of Brexit.

Manufacturers continued to raise stocks of finished goods in preparation for the U.K.'s departure from the EU in October, but at a noticeably lesser extent than earlier in the year, the survey noted.

Job cuts persisted for the fourth month in a row, with some companies reporting natural wastage, recruitment freezes and cost-control initiatives. Business optimism regarding output improved, with more than 46% of respondents expecting output to be higher in the year ahead.

"The weak, highly competitive environment makes a sustained revival highly unlikely in the coming months," said Rob Dobson, director at IHS Markit. "However, a short-lived bounce leading up to October should not be ruled out, as some manufacturers are already gearing up to restart Brexit preparations."