UK manufacturers cut jobs and prices amid economic slowdown

Respected Markit/CIPS survey suggests sector recorded one of its weakest performances for three years as exports market toughens

Britain's manufacturers shed jobs and cut prices last month as they struggled with tough export markets amid a global economic slowdown.

A closely watched survey of the sector suggested it made little contribution to the UK's overall economic growth in the first quarter. Reflecting a crisis in Britain's steel industry, a slowdown in the oil sector and sluggish demand overseas, manufacturing registered one of its weakest performances for three years, according to the Markit/CIPS UK Manufacturing purchasing managers' index (PMI) report.

#UK manufacturing output growth unchanged from Feb's 7-month low. Job losses recorded for third straight month. pic.twitter.com/Tan5vULfRT

#Eurozone manufacturing growth ticks slightly higher, but 'core' weakness weighs on sector https://t.co/S8DrjD7Reb pic.twitter.com/All3U0EPjB