(Bloomberg) -- U.K. factories scaled down faster than previously estimated last month as the coronavirus dented demand.
IHS Markit's Purchasing Managers Index fell to 47.8 on the month, lower than the initial estimate and well below the 50 mark that separates expansion from contraction. The measure for output dropped the most since 2012, while employment declined the most since 2009.
The outbreak of the disease sparked a global slump, and Markit's initial measure for the U.K.'s overall performance showed the sharpest downturn since the series began more than two decades ago. The outlook may not improve for some time as most of Europe and the U.S. remains in lockdown to limit the spread of the virus.
The effects of the pandemic “were felt across most of manufacturing, with output falling sharply in all major sectors except food production and pharmaceuticals,” said Rob Dawson, director at IHS Market. “The transport sector, which includes already-beleaguered carmakers, suffered the steepest downturn.”
Restrictions on travel had a noticeable impact on supply chains last month, survey respondents said. New orders fell sharply, with the steepest declines registered for intermediate and investment goods, the report said Wednesday.
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