Manufacturing production also contracted for the first time in six months in March, according to the survey. “The impact of the war also caused noticeable shifts in the cost and supply chain backdrops. It said the Iran conflict had a “marked” impact on supply chains, with average vendor delivery times growing by the most in more than four-and-a-half years. The survey also showed an impact on jobs in the sector, with the latest round of cuts the steepest since last September. More than a third (34%) of the 500 business leaders polled for the survey are planning to pass on higher costs to consumers.

Source: The Times April 01, 2026 21:18 UTC