Latest data released by Markit - 1 April 2020
The preliminary release can be found here. A slight revision lower as this reaffirms that factory output and new orders fell at its quickest pace since 2012.
Meanwhile, business sentiment also falls to a record low in the survey's history amid a fall in global demand and drastic disruptions to global supply chains.
Markit notes that:
"The latest survey numbers underscore how the global outbreak of COVID-19 is causing huge disruptions to production, demand and supply chains at UK manufacturers. Output and new orders fell at the fastest rates since mid- 2012, while supplier delivery times lengthened to the greatest extent in the 28-year survey history as shortages grew more widespread. The resulting job losses took the rate of decline in employment to its highest since July 2009. "The effects were felt across most of manufacturing, with output falling sharply in all major sectors except food production and pharmaceuticals. The transport sector, which includes already-beleaguered car-makers, suffered the steepest downturn. "With restrictions aimed at slowing the spread of the virus expected to stay in place for some time, expectations of further economic disruption and uncertainty meant business optimism slumped to a series-record low. However, on a slightly more positive note, manufacturers still expect to see output higher in one year's time."
