Britain's manufacturing industry suffered an awful start to the year after contracting for the second consecutive month in January.
Manufacturing output fell for two months running for the first time since the start of 2002, according to the purchasing manager's index (PMI) produced by the Chartered Institute of Purchasing and Supply's (CIPS), January's seasonallyadjusted PMI fell from a level of 49.3 in December to 48.6 in January - its lowest level for 12 months.
On the scale, a reading of more than 50 indicates growth, while less than 50 shows contraction.
The index, a composite indicator designed to provide an overall view of conditions in the manufacturing sector, showed a further contraction of overall order books in January.
John Butler, economist at HSBC, said: "This is an awful report and somewhat surprising when compared to the pickup in manufacturing indicators in the US and parts of Europe."
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