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UK factory growth slips, hiring deteriorates in August
A two-year spell of jobs growth across British factories came to an end last month as manufacturing activity expanded at a slower pace, a survey showed, suggesting the sector is unlikely to boost economic growth much this quarter. The Markit/CIPS UK Manufacturing Purchasing Managers' Index (PMI) fell in August to 51.5 from 51.9 in July, confounding expectations for a rise to 52.0. While still holding above the 50 threshold for growth, the survey underlined Britain's reliance on its services sector and big-spending consumers to drive the economy. There were mixed signals for the manufacturing outlook. New orders came ... (full story)