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UK manufacturing downturn eases in November
November saw the UK manufacturing sector potentially turning a corner. Although production contracted for the ninth consecutive month, the rate of decline eased sharply to its second-weakest during that sequence. The downturn in new orders, although still solid, also slowed during the month. Manufacturers nonetheless remained on a cautious footing, with ongoing market uncertainty and the need to control costs leading to job losses, stock depletion and lower purchasing. The seasonally adjusted S&P Global / CIPS UK Manufacturing Purchasing Managers’ Index™ (PMI®) posted 47.2 in November, up from 44.8 in ... (full story)