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Highlights
- The latest survey results released Tuesday unveiled that the country's manufacturing sector slump worsened in December.
- Even though December's reading stood higher than the earlier flash projection of 44.7, it was still at a 31-month low level.
- Amid the fall in new order placements and the increasing supply chain constraints, output witnessed one of the sharpest collapses over the last 14 years.
While new businesses are tumbling in the UK, the latest survey results released on Tuesday have unveiled that the slump in the country's manufacturing sector got worse in December. From 46.5 points in November, the S&P Global/CIPS UK manufacturing purchasing managers' index, which is adjusted seasonally, plunged to 45.3 points last month.
Even though December's reading stood higher than the earlier flash projection of 44.7, it was still at a 31-month low level. Manufacturing activity in the UK has been deteriorating for four months straight, with December being the fifth successive month of decline, with readings lingering beneath the 50-point mark.
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Amid the fall in new order placements and the increasing supply chain constraints, output witnessed one of the sharpest collapses over the last 14 years. S&P Global Market Intelligence's director, Rob Dobson, has reportedly said that the deterioration in new business was disturbingly sharp. He claimed that pessimism is increasing among clients, and they are becoming more hesitant to devote themselves to new contracts in the UK and other major markets, including the EU, the US, and China.
The slump in the segment was also found in the labour market, with a third straight month of job losses, at the sharpest rate ever since October 2020. Amid the deterioration in the manufacturing sector, Kalkine Media® explores three stocks that investors can keep an eye on in 2023.
BAE Systems plc (LON: BA.)
The leading arms and combat vehicles manufacturer BAE Systems plc's one-year return stood at 55.40% on Wednesday. At around 11:30 AM (GMT), BA. shares were down by 0.91%, trading at GBX 854.40. At the time of writing, the company's YTD (year to date) return stood at -0.19%. Meanwhile, it had an EPS (earning per share) of 0.55. At the time, the FTSE100 constituent's market capitalisation stood at £26,535.94 million.
British American Tobacco plc (LON: BATS)
The one-year return offered by the leading UK-based manufacturer of tobacco and nicotine products, British American Tobacco plc, stood at 23.21% on Wednesday. At around 11:30 AM (GMT), BATS Shares were up by 0.78%, trading at GBX 3,368.50. At the time of writing, the YTD return given by the company stood at 2.64%. Meanwhile, it had an EPS of 2.97. At the time, the FTSE100 constituent's market capitalisation stood at £74,733.81 million.
Imperial Brands plc (LON: IMB)
The one-year return offered by another top UK-based manufacturer of cigarettes and related products, Imperial Brands plc, stood at 29.96% on Wednesday. At around 11:30 AM (GMT), IMB shares were up by 0.72%, trading at GBX 2,105.00. At the time of writing, the YTD return given by the company stood at 1.56%. Meanwhile, it had an EPS of 3.00. At the time, the FTSE100 constituent's market capitalisation stood at £19,591.79 million.
