UK factories are laying off workers at fastest rate for seven years

Monthly manufacturing snapshot shows seventh month of contraction

Britain's factories are laying off workers at the fastest rate in seven years as manufacturing remains in the doldrums amid political and economic turmoil.

The monthly UK manufacturing snapshot from IHS Markit/Cips shows the headline purchasing managers' index (PMI) slipped to 48.9 in November from 49.6 in October. It has been stuck for seven months below the 50 mark that separates expansion from contraction.