India, Sept. 1 -- The UK manufacturing sector continued to shrink in August on faster declines in new orders and export business, survey results from S&P Global showed on Monday.
The factory Purchasing Managers' Index fell to 47.0 in August from a six-month high of 48.0 in July. This was also below the flash estimate of 47.3. A reading below 50.0 indicates contraction.
The survey showed that weak market conditions, tariff uncertainties and downbeat client confidence all contributed to a sharp drop in new order intakes. New export business contracted for the forty-third successive month.
The downturn in production volumes extended into its tenth consecutive month. Further, business optimism among manufacturers rose to a six-month high but...