The outbreak of coronavirus disease 2019 (COVID-19) and subsequent mitigation efforts across the world led to a substantial contraction of UK manufacturing production during March. Output fell to the greatest extent since July 2012 following a similarly severe reduction in intakes of new business. The impact was also felt in the labour market and through supply chains. Transport delays and shortages of raw
materials led to the steepest increase in vendor lead times in the 28-year survey history, further disrupting production.
The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index® (PMI®) fell to a three-month low of 47.8 in March, down from 51.7 in February and the flash estimate of 48.0.
The full IHS Markit/CIPS UK Manufacturing PMI® Report is attached.
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