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Monthly index shows another output decline

Published 02/10/2012

Hopes of an imminent rebound in have been dashed as the crisis in the UK's largest export market continued.

The latest Markit/CIPS purchasing managers' index (PMI) produced a headline reading of 48.4 for September, below 50 that separates expansion from contraction and down on the improved 49.6 a month earlier.

Markit economist Chris Williamson said the findings were consistent with output falling at a quarterly rate of more than 1% in September. He said: "At that pace, the sector could dampen economic growth severely and keep the economy in recession."

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