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UK manufacturing downturn continues at end of third quarter
September saw the downturn in UK manufacturing output extend to three months, as companies cutback production in response to declining new order intakes. There was less positive news on the price front as well, with rates of inflation for input costs and output charges both accelerating. The seasonally adjusted S&P Global / CIPS UK Manufacturing Purchasing Managers’ Index® (PMI®) posted 48.4 in September, up from 47.3 in August but below the flash estimate of 48.5. Although the rate of contraction in output eased slightly since August, it nonetheless remained substantial overall. Contractions were registered ... (full story)