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UK Manufacturing PMI at 14-month low
The upturn in the UK manufacturing slowed further in August. The seasonally adjusted Markit/CIPS Purchasing Manager’s Index® (PMI®) posted 52.5, down from 54.8 in July, to record its lowest reading since June last year. Manufacturing output and new orders expanded again in August, taking the respective sequences of growth to one-and-a-half years in both cases. Companies linked higher production to growth of new orders from domestic and overseas markets. The upturn also remained broad-based, with production and new business inflows continuing to rise across the consumer, intermediate and investment goods ... (full story)