The UK manufacturing sector has been profoundly hit by the Covid-19 pandemic, according to research by Made and Santander.
Among the findings it quotes in the report are that the UK manufacturing Purchasing Managers’ Index dipped to 32.6, the lowest value since records began almost 30 years ago. The automotive and other transport sectors have been particularly hard hit.
Some 70% of manufacturers have seen a fall in their orders and sales, and a quarter of manufacturers expect to make redundancies in the next six months. This is further backed up by the latest UK GDP data, which fell by a staggering 20.4% in April alone.