India, Feb. 1 -- British factory activity deteriorated further at the start of the year amid the lower output and new orders as the Red Sea crisis badly impacted the supply chains, survey results from S&P Global revealed Thursday.
The Chartered Institute of Procurement & Supply Manufacturing Purchasing Managers' Index, or PMI, rose to 47.0 in January from 46.2 in December.
The flash score was 47.3. Any reading below 50 indicates contraction in the sector.
Manufacturing production declined for the eleventh successive month in January due to weaker new work inflows and supply chain delays.
Output contracted across all three major sectors, including the consumer, intermediate, and investment goods industries.
New orders fell further at th...