Andrew Symms said:
“The May manufacturing PMI figures illustrate the impact of global trade tensions and Brexit uncertainty that has resulted in the PMI to drop below the neutral 50.0 benchmark for the first time since July 2016."
“The underlying data does not paint a rosy picture. New order inflows deteriorated from both domestic and overseas sources and employment fell for the second straight month. With this and the Brexit saga, manufacturers need to take positive steps to understand their supply chains, mitigate risks and ensure, to the best of their ability, that financing is available in case conditions deteriorate further.”