Factory job cuts in June neared financial crisis and Covid levels, S&P says
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Summary
Though the firm's manufacturing index ran better than expected for June, it came largely from an inventory rebuild and despite sharp job cuts.
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Another reminder that Andy Burnham will inherit an economy which is stuttering, at best... 🫤
— Julian Jessop (@julianHjessop) June 23, 2026
Flash UK PMI Composite Output Index fell to 49.4 in June (from 49.7 in May), despite a temporary boost to manufacturing from front-loading of work to beat the Iran war fallout👇 pic.twitter.com/qAmrHsbQgI