This is the best summary I could come up with:

LONDON, Sept 1 (Reuters) - British factories in August suffered their weakest month since early in the COVID-19 crisis, with orders shrinking dramatically due to the rise in interest rates at home and abroad, a survey showed on Friday.

Rob Dobson, director at S&P Global Market Intelligence, said output and new orders in the factory sector contracted at rates rarely seen outside of crisis periods and companies were being forced into defensive action.

“Purchasing activity, inventory holdings and staffing levels were all cut back in August as manufacturers strived to control costs, protect margins and operate in a much leaner and efficient manner,” he said.

Input costs fell at the quickest pace since January, potentially easing goods price inflation in the coming months.

“The survey data therefore suggest policymakers will become increasingly focused on concerns over the economy’s health as they mull the need for further rate hikes,” Dobson said.

With inflation still close to 7% in July, the Bank of England looks set to raise rates for the 15th time in a row on Sept. 21, even with the economy showing signs of a slowdown which some economists say will turn into a recession soon.

The original article contains 304 words, the summary contains 196 words. Saved 36%. I’m a bot and I’m open source!