UK manufacturing suffers slump amid 'gathering' global gloom - report

It has cut its manufacturing forecasts, expecting a 0.1% fall in 2015, with 0.8% growth next year, and points to serious concerns about the future outlooks for the global and UK economy, the BBC reports. Demand from global markets has become more weaker, it said, leading to falling exports, and job prospects have also been hit, particularly in the oil industry, which has been hit by falling prices. Meanwhile, recent job losses in steel companies have also hit the sector. The EEF report follows last week's Markit Purchasing Managers' Index (PMI), which showed UK manufacturing slowin...