manufacturing (5)

The UK's manufacturing sector contracted in May for the first time in nearly three years as companies slowed stockpiling ahead of Brexit.

The Markit/CIPS Purchasing Managers Index'(PMI) for the sector dropped to 49.4, with any figure above 50 indicating growth. In April, the index was at 53.1.

The manufacturing sector has remained in growth throughout 2019, buoyed by the number of firms increasing stockpiles of raw materials in anticipation of supply chain disruption caused by Brexit.

The study showed that manufacturers were finding it increasingly difficult to get clients to commit to new projects with uncertainty surrounding Brexit showing no signs of dissipating.