UK factories facing bleakest winter in 50 years

Soaring energy costs are hitting industries across Britain The British manufacturing industry is facing its worst winter since the 1970s as spiking energy costs could result in blackouts and shutdowns, Bloomberg reported on Friday. The report indicated that the latest purchasing managers’ index, which was published on Thursday, confirmed the steepest contraction in production since the depths of the coronavirus lockdown in May 2020. According to S&P Global and the Chartered Institute of Procurement and Supply, “companies experienced a sharp reversal in new orders, with demand from domestic and overseas clients con

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