Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Double dip recession fears were fuelled today after a key measure of the health of manufacturing sector "dropped like a stone" to a 28-month low.
A closely watched survey by Markit/CIPS, in which a score of under 50 represents contraction, dropped to 47.4 in October, down from 50.8 the previous month, and its lowest level since June 2009.
The report's authors said the most worrying aspect of the survey was that new orders declined at the quickest pace since March 2009.
Levels of output, new orders and employment were all lower than one month earlier as the crisis in the eurozone hit demand from overseas, while the UK market remained subdued amid the squeeze in consumer spending.
And the sector has now signalled a deterioration in overall operating conditions for three out of the last four months.
The gloomy survey has increased fears that the UK's economy could contract in the final quarter of 2011, despite official figures today showing that GDP grew 0.5% in the three months to the end of September.
CIPS chief executive David Noble said the survey showed the sector's activity had "dropped like a stone" and added that the mood is "somewhat sombre".
He said: "We live in worrying times. The manufacturing sector, which helped to keep growth buoyant earlier in the year, is now struggling to keep its head above water.
"Confidence is being hit hard as the sector feels pressure from all angles, with continued uncertainty in the eurozone being the main contributing factor as last week's short-lived optimism fades."
PA
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments