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UK Manufacturing PMI at 20-month low in May
The manufacturing activity grew at its slowest pace in 20 months in May, and weaker export and consumer demand led to the first drop in new orders in two years, fuelling fears about the pace of the recovery. The Markit/CIPS manufacturing PMI headline index, published on Wednesday, fell to 52.1 last month from a downwardly revised 54.4 in April, well below the 54.1 consensus forecast. The worst headline reading since September 2009 was blamed on a weaker domestic market, particularly for consumer goods, and the slowest growth in export orders in eight months. Extra public holidays also reduced activity. The ... (full story)
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