内外冲击叠加 英国制造业PMI五个月来首次下降

Group 1 - The UK manufacturing sector faced setbacks in August due to overseas trade tensions and domestic tax increases, leading to a decline in new orders [1] - The Manufacturing Purchasing Managers' Index (PMI) dropped from 48.0 in July to 47.0 in August, marking the first decline in five months and remaining in contraction territory for the 11th consecutive month [1] - Weak demand, global trade tariffs, and increased employer tax burdens contributed to a significant drop in new orders, with the fastest decline in four months [1][4] Group 2 - The confidence index among manufacturers slightly increased to a six-month high but remains below the long-term average [1] - Some employers anticipate stabilization in global market conditions, while others express concerns over potential tax increases and rising energy costs [2] - The ratio of new orders to finished goods inventory, an early indicator of future production changes, fell to its second-lowest level since October 2023 [3] Group 3 - The manufacturing sector has experienced continuous layoffs for ten months, raising concerns among Bank of England officials about a potential slowdown in the labor market [4] - Input price inflation reached its highest level since May, partly due to tax increases in April, although some cost increases have been passed on to customers [4] - Manufacturing accounts for approximately 9% of the UK's economic output, while the services sector showed accelerated expansion in August [4]